THE ASANNANG LEPA LEPA
Company
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- Jewel of Mabul Development Sdn. Bhd
A member of the Coastal Contracts Berhad
- Monday – Friday 8:00 a.m. – 5:00 p.m.
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ABOUT US
Jewel of Mabul Development Sdn. Bhd. (JOMD)
Jewel of Mabul Development Sdn Bhd. (JOMD) is the majority-owned subsidiary of Coastal Contracts Berhad, venturing into hospitality to diversify its portfolio.
The project is “conceptualised by a team of forward-looking entrepreneurs and award‑winning consultants, each with over 30 years of experience in the region’s resort development, diving, and eco‑tourism fields.”
The resort’s architecture was brought to life by SL+A (Steven Leach + Associates). Their design for Lepa‑Lepa Resort earned them an Excellence Award in the Hotel category in 2016, recognizing the resort’s breathtaking and sustainable architectural vision
The project is supported by the Sabah Government’s Economic Transformation Program (ETP).
Coastal Contracts’ Foray into Hospitality
In March 2024, Coastal Contracts Berhad officially entered the hospitality and tourism sector through its wholly-owned subsidiary, Coastal Hospitality Holdings Sdn Bhd (CHH). This milestone was marked by the acquisition of an 82% equity stake in Jewel of Mabul Development Sdn Bhd (JOMD)—a Sabah-based development company holding 31.15 hectares of land on Pulau Mabul, earmarked for the construction of a luxury overwater resort.
This RM19 million acquisition signifies Coastal’s strategic move to diversify beyond its core strengths in oil & gas, vessel chartering, and shipbuilding, tapping into the growing demand for eco-tourism and sustainable travel in Malaysia. The project is supported by the Sabah Government’s Economic Transformation Program (ETP) and aligns with Coastal’s broader vision for climate-conscious growth and a transition to net-zero by 2050.
To fund Phase 1 of the Lepa Lepa Resort development, CHH has committed an additional RM50 million, financed via internal resources and/or bank borrowings. The resort’s masterplan includes iconic overwater bungalows designed to reflect the local Bajau Laut heritage, combining luxury, sustainability, and cultural authenticity.
While the acquisition prompted short-term market skepticism—due to Coastal’s limited track record in hospitality and the financial status of JOMD—analysts acknowledge its potential to unlock long-term value through diversification and tourism recovery.
With its entry into Sabah’s premium resort market, Coastal Contracts is building not just infrastructure—but memorable, eco-conscious travel experiences that respect both the environment and local communities.
