PULAU Daat located between Menumbok, Sabah and the Federal Territory of Labuan will be auctioned at Bornion Center, Jalan Kolam, Luyang Kota Kinabalu, at 11 am this Friday.
Advertisements about the open auction have been spread on social media over the past few days, with the 237.55 -hectare island to be released at a reserve price of RM121.5 million, reported Harian Metro.
Bumiputera auctioneers will conduct auctions held following the dissolution of Potensi Bernas Sdn Bhd (Potensi Bernas), a property development and management company registered in Sabah as the owner of Pulau Daat.
It is understood that the auction process was supposed to be held last year, but was postponed due to restrictions imposed due to the spread of Covid-19.
Pulau Daat, which is also part of Labuan, has a lease term of 999 years which expires on 31 December 2853.
The first owners of the island were British nationals John Gavaron Treacher and Clarence Cooper based on a grant issued in 1856 by Labuan Governor George Warren Edwardes on behalf of Queen Victoria at the time.
It then changed hands to other owners including the last one, Potensi Bernas.
Previously, the island had been proposed as a route for a 9.15 -kilometer bridge connecting Labuan with Menumbok, taking into account efforts to develop the long -abandoned Daat Island.
Apart from that, it also attracted the attention of investors in 2011 for the development of an integrated petroleum complex worth RM3 billion.
However, the plan was canceled due to the shallow and muddy geography of Pulau Daat, making it unsuitable to be developed as an oil and gas industrial area. – Malaysiapost