Summarised - Kind Courtesy of Daily Express - 27 November 1996.
Sabah stands to save RM80 million yearly on sugar imports when the State's first sugar factory goes into full production in the near furture.
Presently, local sugar demand has reached 70,000 metric tonnes last year, priced at RM1.20 per kilogramme. The venture, being undertaken by Gula Sabah Sdn Bhd, will include vast areas of sugar plantations and a processing factory. Such a move in turn would undoubtedly benefit the local population in Kuala Penyu district which was seen to be backward in terms of development when compared to Keningau, Tawau and Lahad Datu among others, Chief Minister Datuk Yong Teck Lee said.
He was confident that ample job opportunities would be offered to the locals in the areas as well as those outlying areas towards improving their living standard. Yong also assured that additional infrastructure would be provided in Kuala Penyu, including sealing the road leading to the area by next year. He was optimistic Kuala Penyu has a wide potential for more development prospects and could benefit greatly by the economic spinoffs from Labuan in view of its current status as the International Offshore Financial Centre (IOFC).
In addition to the sugar project, the district also had a rich deposit of silica sand to enhance a glass making project, as well as being adjacent to various tourism projects in the immediate neighbouring districts of Membakut and Papar, he said.
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