Karambunai is linked to NagaCorp Ltd, which is listed in Hong Kong and operates a casino in Cambodia.

Their common shareholder is Tan Sri Dr Chen Lip Keong, who founded NagaCorp and serves as its chief executive officer. Chen is president of Karambunai Corp.

On Sept 22, The Malaysian Insider said Malaysia appears to have jumped on the integrated resort (IR) bandwagon with the unveiling today of a proposed 500-acre "eco-nature" resort in Sabah by Pemandu at the Economic Transformation Plan (ETP) open day here.

Sources told The Malaysian Insider that the option to build a casino is on the table for the Karambunai IR — alongside a mangrove centre, water theme park and waterfront PROPERTIES [] — to ensure a higher return on investment (ROI).

"Although the presentation panels for the development made no mention of any casino, they repeatedly referenced Singapore's highly successful Marina Bay Sands as well as Resort World Manila in the Philippines and Vietnam's Ho Tram Strip — all of which are casino-anchored IRs,"

 

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