SMEs in Labuan to get 30% discount on land lease

Companies involved in oil and gas, logistics, commercial, civil engineering and tourism in Labuan can apply for a five-month lease discount offered by Putrajaya. (Bernama pic)

KUALA LUMPUR: Labuan Corporation is giving a 30% discount on the lease of 108 lots of land that are leased to 85 companies engaged in oil and gas, logistics, commercial, civil engineering and tourism activities in Labuan.

Federal Territories Minister Annuar Musa said the discount is given to ease the burden of small and medium enterprises (SMEs), as well as micro enterprises in Labuan that are affected by the movement control order (MCO).

“It is in line with the federal government’s initiative under the Prihatin Rakyat Economic Stimulus Package (Prihatin) in addressing this global catastrophe,” he said.

The move will affect 95 agreements.

The duration of the discount is for five months from March to July with the total cost, amounting RM987,292.82, to be borne by the government.

Annuar said there are 78 agreements for lease rates below RM10,000; 17 agreements for lease rates ranging from RM11,000 to RM50,000 and one agreement for lease rate exceeding RM100,000 a month.

The companies and enterprises concerned can contact the Valuation, Investment and Property Management Department of the Labuan Corporation at 087-408650 for further inquiries. - FMT