Landmarks Boosts Investment in Bintan

Malaysian developer and leisure firm Landmarks Holdings is planning to invest a total of 4 billion ringgit ($1.20 billion) in a resort on Indonesia's Bintan island, The Edge financial daily said on Friday, citing a top company official, Reuters reported.

Landmarks' chief operating officer Lim Boon Soon said there were no plans for gambling facilities at the resort.

Landmarks said on Thursday its unit, Primary Gateway Sdn Bhd, is acquiring an additional 9.5% stake in Bintan Treasure Bay Pte Ltd, the Bintan project developer, increasing its stake in Bintan Treasure to 74%.

The Bintan project will include a lifestyle hotel and resort plus residential and commercial development.
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