Deal #3551

Location #1

Spatial accuracy level
Administrative region
Location
Limbang, Sarawak, Malaysia

Target country
Malaysia
Comment on location
land bordering the Gunung Mulu National Park

Land area

Size under contract (leased or purchased area, in ha)
[2013] 32584
Comment on land area
Company holds a plantation licence (LPF/0027) for 32,584 hectares of secondary forest in Sarawak’s Upper Limbang region as well as two Belian timber licences (BT 9098 and BT9144) for the same area

Intention of investment

Intention of the investment
Agriculture unspecified, Timber plantation (for wood and fibre), Forest logging / management (for wood and fibre)
Comment on intention of investment
The actual intention of Billion Venture seems to be to sell its concessions, or rather, to sell the company to foreign investors who would then deforest and plant oil palm.

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
Concluded (Contract signed)

Implementation status

Implementation status
Project not started

Operating company

Comment on investment chain
Billion Venture is owned by the Hii family, who have extensive and enduring commercial interests with Chief Minister Taib Mahmud and his immediate family. Currently there is no secondary investor, but two cousins of chief minister Taib offered the company Billion Venture Sdn Bhd, which is registered under their names, for sale to foreign investors - this effort was uncovered by the British environmental organization Global Witness.

 

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Data source #1

Data source type
Media report
File
Date
2011-03-07

Data source #2

Data source type
Media report
File
Date
2013-04-02
Comment on data source
German

Data source #3

Data source type
Media report
File
Date
2013-03-24

Data source #4

Data source type
Research Paper / Policy Report
File
Date
2013-03-01

Consultation of local community

Community consultation
Not consulted
Comment on consultation of local community
Since 2011, three tribes file a joint land rights litigation to regain the land licensed to the company

How did the community react?

Community reaction
Rejection

Former land owner (not by constitution)

Former land owner
Private (smallholders)

Former land use

Former land use
Smallholder agriculture

Former land cover

Former land cover
Forest land

Detailed crop, animal and mineral information

Crops area
Oil Palm, Trees (unspecified)

Overall comment

Overall comment
A land rights case has been filed by several indigenous communities. One of the defendents in this case is Billion Venture. Additionally, a video by Global Witness reveals that two cousins of Sarawak's Chief Minister Taib offer Billion Venture for sale while showing ways to evade taxes. There is no information on the company having been sold or production having started.

June 10, 2019, 5:10 a.m.

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Jan. 27, 2017, 6:07 p.m.

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June 29, 2015, 5:56 p.m.

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May 15, 2015, 4:07 p.m.

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July 12, 2013, 1:22 p.m.

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May 22, 2013, 7:08 p.m.

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May 8, 2013, 9:12 p.m.

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