As much as 1.4 billion ringgit (438.87 million U.S. dollars) 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, local media reported on Tuesday.
The company has plans to build at least four vessels to be turned into yacht hotels in Malaysia, spanning through 2014, Sunborn executive director for planning, development and shipbuilding, Jari Niemi said at a briefing in Kuala Lumpur on Monday.
"We are now seeking collaboration with local businessmen to operate the shipbuilding activities in the country.
"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," the New Straits Times quoted Niemi as saying.
Sunborn International has established a subsidiary, Sunborn Marine Malaysia Sdn Bhd, to supervise all its activities in the country, Niemi said.
"These include the ongoing Sunborn's third yacht hotel project costing between 250 million ringgit (78.37 million U.S. dollars) and 300 million ringgit (94.04 million U.S. dollars), which is expected to be delivered to its final destination in Barcelona (Spain) by 2009," he said.
Sunborn now has two yacht hotels - Sunborn Princess, which is located in Naantali, Finland and Sunborn 1, which is anchored in London.
"The fourth yacht hotel due to be placed in London is currently under planning, while the sixth yacht hotel is under negotiation and will be located in New York.
"The location for the fifth and seventh yacht hotel has not yet been launched as they are presently under research and negotiations. All these four vessels are planned to be built in Malaysia," he said.
Sunborn chose Malaysia as its base for shipbuilding because the country has good infrastructure and stability, including political stability, Niemi said.
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.
The company has plans to build at least four vessels to be turned into yacht hotels in Malaysia, spanning through 2014, Sunborn executive director for planning, development and shipbuilding, Jari Niemi said at a briefing in Kuala Lumpur on Monday.
"We are now seeking collaboration with local businessmen to operate the shipbuilding activities in the country.
"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," the New Straits Times quoted Niemi as saying.
Sunborn International has established a subsidiary, Sunborn Marine Malaysia Sdn Bhd, to supervise all its activities in the country, Niemi said.
"These include the ongoing Sunborn's third yacht hotel project costing between 250 million ringgit (78.37 million U.S. dollars) and 300 million ringgit (94.04 million U.S. dollars), which is expected to be delivered to its final destination in Barcelona (Spain) by 2009," he said.
Sunborn now has two yacht hotels - Sunborn Princess, which is located in Naantali, Finland and Sunborn 1, which is anchored in London.
"The fourth yacht hotel due to be placed in London is currently under planning, while the sixth yacht hotel is under negotiation and will be located in New York.
"The location for the fifth and seventh yacht hotel has not yet been launched as they are presently under research and negotiations. All these four vessels are planned to be built in Malaysia," he said.
Sunborn chose Malaysia as its base for shipbuilding because the country has good infrastructure and stability, including political stability, Niemi said.
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.