Lion Group to invest RM100m
Published on: Tuesday, February 11, 2020
By: Larry Ralon
KOTA KINABALU: The Lion Group has expressed interest to invest in the aquaculture and agriculture fields, apart from exploring the possibility of getting involved in mining in Sabah.
Group Executive Chairman Tan Sri William Cheng told Chief Minister Datuk Seri Mohd Shafie Apdal this during a courtesy call at the latter’s office at the State Administrative Centre (PPNS), Monday.
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Cheng and his delegation were here to explore investment opportunities in the State, with a plan to invest more than RM100 million per project.
“We want to explore any investment opportunities in Sabah in agriculture, aquaculture and also mining. We have tin and silica mining operations in the peninsula,” said Cheng, when met by reporters later.
For aquaculture, he said the Group plans to start a hatchery farm for high-value aquaculture products especially lobsters, yellow eels and white shrimps.
“These aquaculture products are meant for the export market. White shrimp is already a success story in West Malaysia where it is mainly exported to China and Japan.
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“When already successful here we will duplicate the model for the benefit of the locals,” he said, adding they are presently in an exploration stage with the State Government and had yet to identify any places for the purpose.
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Cheng said they turned to Sabah because the State’s sea had less pollution and thus its quality is very good and conducive for aquaculture, as well as the Chief Minister’s policy on project approval which can be obtained within one day and “not like the other which takes about 12 years...we like that this Chief Minister is more aggressive.”
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