Berjaya Assets Bhd has big plans to transform its land in Johor Baru into a huge entertainment resort with a chain of high-end restaurants and clubs possibly spiced up with slot machines, a source said.
The project, which could be built on at least 18 acres or more near the Malaysia-Singapore causeway, is expected to steal some business from the two casinos in Singapore where costs are much higher.
With a large middle to high-income population expected to settled down in Iskandar Malaysia in the coming years, the project's proximity to the area may well attract a steady flow of foreigners and locals.
The project needs the approval of state and some federal government agencies, including the Ministry of Finance.
"The plan is not expected to face much resistance from the state authorities. The issue could be the federal government," an unidentified source said.
"Berjaya Assets may be looking to transform its Johor waterfront property into a huge entertainment resort," the source said.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.