In a statement, Faber said it expected to realise a gain on disposal of RM99.06mil based on its audited financial statement as at Dec 31, 2006.
“The proceeds will be used for the redemption of redeemable convertible preference shares, the group's business growth and expansion plans,” it said.
The government will list the Harvest Festival or Pesta Kaamatan in the Labuan annual tourism programme to boost the tourism sector.
Member of Parliament for Labuan Datuk Suhaili Abd Rahman said the proposal had been submitted to the Labuan Tourism Action Council.
“We believe that cultural programmes and activities should be actively promoted due to their potential as tourism products.
“We are living in a country with cultural diversity which should be preserved. ” he said when launching the Federal Territory of Labuanlevel Pesta Kaamatan here last week.
Suhaili said the KadazanDusunMurut community should be proud of the government’s recognition for Pesta Kaamatan, including it in its annual tourism programme.
He also announced an annual allocation of RM20,000 for the programmes and activities of the Kadazan Dusun Cultural Association (KDCA) in Labuan.
