July 25, 2008

Sunborn to shift shipbuilding activities to Malaysia

The New Straits Times reported that as much as MYR 1.4 billion (USD 438.87 million) worth of contracts will be up for grabs for Malaysian firms as Finland's Sunborn International plans to move all its shipbuilding activities to Malaysia.

The paper quoted Mr Jari Niemi executive director for planning, development and shipbuilding of Sunborn at a briefing in Kuala Lumpur as saying that the company has plans to build at least four vessels to be turned into yacht hotels in Malaysia, spanning through 2014. He said that "We are now seeking collaboration with local businessmen to operate the shipbuilding activities in the country.”

He added that "We are also awaiting approvals from the ministry of finance and Malaysian Industrial Development Authority so that we can operate as a local company that makes us eligible to apply for the various tax incentives offered by the Malaysian government.”

Mr Niemi said that Sunborn International has established a subsidiary, Sunborn Marine Malaysia Sdn Bhd to supervise all its activities in the country. He added that "These include the ongoing Sunborn's third yacht hotel project costing between MYR 250 million (USD 78.37 million) and MYR 300 million (USD 94.04 million), which is expected to be delivered to its final destination in Spain by 2009.”

The Sunborn Group is a global hotel and hospitality company with over 30 years of experience in the hotel, spa and conference business in Scandinavia and Europe.