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Dr Brand (right) presenting a mock cheque for US$10 million to Yayasan Sabah Group’ senior finance and investment manager Kathil Toyong (left), watched by Musa and Sam. The contribution is for Rakyat Berjaya to invest in the Malua BioBank.
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15th August, 2008
KOTA KINABALU: The establishment of the Malua Wildlife Habitat Conservation Bank (Malua BioBank) is a win-win proposition that will yield multiple benefits.
It is a firm step towards conserving the natural heritage, Chief Minister Datuk Seri Musa Haji Aman said after witnessing the signing of an agreement between the State Forestry Department and NewForests Private Limited to set up the Malua BioBank here yesterday.
“What we have witnessed is a loud statement that we are extremely serious with conservation of the forests including the natural habitat for wildlife,” he said.
Musa also said the event was also significant because it was to protect a sizeable area of the state’s rich biodiversity, ranked as of the most beautiful on earth.
The Chief Minister added that it was recognised that the only way to have a meaningful conservation “is through habitat conservation.
“And, this is precisely what we are doing within the 34,000-hectare conservation area of Malua BioBank,” he said.
“We, therefore, salute and thank other partners from the public and private sectors for their active participation in this new enterprise,” he added.
He also said the Yayasan Sabah, through its timber-operating arm – Rakyat Berjaya Sdn Bhd – had made a big sacrifice by ceasing logging operations in the Malua Forest Reserve at the end of last year.
“They have put their trust in this scheme and happily accepted the need to give up immediate returns from logging operations and opted for long-term benefits through this conservation approach,” he said.
Musa added that the Sabah Forestry Department too deserved praise for its many initiatives and efforts in forest conservation.
He hoped the department would continue with its strategic and creative moves towards conservation and sustainable management of the forests.
Musa meanwhile said the Malua BioBank would not have materialised without the effort from NewForests Private Limited.
“Their initiative is very much appreciated, not only in mooting this innovative investment approach but also for choosing Kota Kinabalu the base for their Asian operations.
“It indeed is a stamp of confidence in the economic and political well-being of Sabah,” the Chief Minister said.
The state government, he said, also appreciated the involvement HSBC Malaysia which would manage the Malua Trust, an important component of this four-way partnership.
Musa said he was also pleased to see such a large number of initial investors who have placed their trust in the BioBank and that they would be rewarded in due course for their investment in conservation of the Malua forests.
He also it had never been an easy task for the state government in striving to achieve a high level of economic development as well as conserving the natural habitats.
“It is like balancing and moving along very cautiously on a tight rope. But today’s event has proven that we have been successful and are courageous enough to accept new and innovative approaches for the good of the present and future generations,” he stressed.
He said what was most important that their action conformed to what conservation specialists had defined as “sustainable development” – development that meets the needs of the present without compromising the ability of the future generations to meet their own needs.
At the signing yesterday, the Forestry Department was represented by its director Datuk Sam Mannan while NewForests by its managing director Dr David Brand.
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