Labuan. 1. The Customer declares and certifies that the information given in or pursuant to this Agreement is true and correct and that it will advise X.X. Xxxxxx Xxxxx Bank N.A., Labuan (the “Bank” in the context of Time Deposits in Labuan) of any changes promptly. The Customer further declares and certifies for the purposes of the Anti-Money Laundering and Anti-Terrorism Financing Xxx 0000 that it is not commonly known by any other name than that given on this Agreement, or that if it is known by one or more other names, that it has fully disclosed such name or names to the Bank in writing. The Customer will provide the Bank with such documentation, declarations, certifications and information as the Bank may require in connection with the provision of any service to the Customer or the carrying out of any transaction for the Customer’s benefit, and warrants that all such information shall be true and accurate in every respect.
Labuan. The weak oil sector has also affected the hotel sector with occupancy suffering a slow down. However, budget to 3 or 4-star hotels remain stable with hotel operators offering attractive packages and promotional room rates. Sabah Performance in 2016 remained soft due to Tawau being less of a tourist destination. Hotel occupancy rates in 2016 were stable. For 2017 the hotel industry will remain stable in Tawau but Semporna is likely to outperform Tawau due to the influx of China tourists visiting offshore island resorts. For 2016, most of the offshore island resorts in Semporna had registered 90%-100% occupancy rates. The planned chartered international flights direct from China to Tawau in 2017 will likely to see more tourist arrivals to Semporna, which will make the resort/hotel industry in Semporna to be even more vibrant. Average Room Rates and Occupancy Rates 3 Star Hotel 4 Star Hotel 5 Star Hotel ARR (RM) AOR (%) ARR (RM) AOR(%) ARR (RM) AOR (%) 2015 2016 2015 0000 0000 0000 2015 2016 2015 0000 0000 0000 Xxxxx 000 - 000 - 00 - 00 00 - 00 160 160 35 - 45 30 -45 - - - - 150 150 -240 -240 Lahad Datu 120 120 55 50 Labuan 155 155 65 65 250 250 60 60 350 350 60 60 Sandakan 150 150 60 60 230 230 50 50 - - - - Source: WTW Research Hotel Jagakota, Lahad Datu East Sarawak No. of Hotels and Rooms in Miri by locality Malaysia Overall, the hotel sector can be said to be satisfactory. In 2016, there were two hotels; 6-storey and 8-storey purposed built hotels to be completed. Upon the completion, there will be an additional 171 hotels rooms in the hotel market. One of the hotels is confirmed to be sold at the price of Hotels hotel Rooms rooms Urban/ City area 15 75% 1,810 65.65% Suburban 5 25% 947 34.35% Total 20 100.00% 2,757 100.00% Source : WTWY Research Locality No. of % of total No. of % of total around RM15million without furnishing basis whilst another is retained by the developer for hotel business. As this sector has additional hotel rooms, we forecast the occupancy rate for existing hotels may drop. The average occupancy rate for hotels in Miri stands at 68%, a considerably moderate rate. 3-star & 4-star hotels fare better in terms of occupancy and are still the most popular hotels for tourists/visitors to Miri. It is anticipated in the coming year, the hotel sector will continue to be stable and with the weakening ringgit, Bruneians will continue to crowd Miri for their weekend stay-over and shopping spree. From the table on Top 5 countries of visitors ar...
