Khazanah Invests Over RM4 Billion in Desaru Coast and Legoland Malaysia, Says MOF

KUALA LUMPUR (Nov 12): Khazanah Nasional Bhd has channelled more than RM4 billion into the development of Desaru Coast and Legoland Malaysia Resort, according to the Ministry of Finance (MOF). The investment was made through Khazanah’s wholly-owned subsidiary Destination Resorts and Hotels Sdn Bhd, covering large-scale infrastructure and high-value tourism assets.

In a written parliamentary reply, the MOF said the spending includes the development of internationally branded hotels and major tourism facilities designed to position Desaru Coast as one of Malaysia’s leading resort destinations.

The ministry added that Khazanah has also partnered with strategic investors such as Permodalan Darul Ta’zim, the Johor state-owned company responsible for managing key state assets, to accelerate the region’s growth.

Desaru Coast Set for Further Expansion

According to the MOF, the next five years will see Desaru Coast strengthened by:

• Additional hotel rooms

• New resorts

• Branded residential offerings

• Expanded leisure and tourism infrastructure

The destination is also expected to benefit significantly from the upcoming Johor–Singapore Special Economic Zone (JS-SEZ), which aims to enhance cross-border economic activity and increase regional competitiveness.

The rising appeal of southern Johor is already being mirrored in investor enquiries across Greater KL and Selangor — especially those seeking industrial land in Selangor, urban commercial property in KL, and transit-oriented areas such as office space in Bukit Jalil and industrial property in the Subang area. Meanwhile, manufacturing businesses exploring proximity to Singapore continue to show interest in factory space in Puchong and other logistics-friendly corridors.

Reply on National Deposit Fund Proposal

In the same document, the MOF responded to a separate query from Dr Abd Ghani Ahmad (PN–Jerlun), clarifying that the government has no intention to establish a National Deposit Fund aimed at safeguarding private or corporate deposits.

The ministry explained that deposits made by individuals or companies must be used strictly for their intended purposes and recorded under designated Deposit Accounts managed by their respective ministries or departments.

The MOF added that it is responsible for the creation and oversight of Trust Accounts and Trust Funds under Sections 9 and 10 of the Financial Procedure Act 1957 (Act 61).