Consequent to the in-principle indicative approval of the State Government of Perak of the Lekir Coastal Development Project ("Lekir Coastal Project") in 1996, two companies were formed by three partners to promote, develop and implement the Lekir Coastal Project, which comprised two related developments:

The promotion and development of the Lekir Coastal Project comprising the reclamation of land from the sea in the form of islands and the sale of these islands. Total area available for reclamation was 20,000 acres.

The promotion and development of a very deep water bulk terminal, complementary in nature to LMT and the Lekir Coastal Project.

The founding promoters of DKSB and LBT were:

• Perbadanan Kemajuan Negeri Perak
• Halim Rasip Holdings Sdn. Bhd.
• Malakoff Berhad

The current shareholders of DKSB and LBT are:

The founding promoters

Integrax Berhad & Malakoff Berhad

DKSB commenced reclamation of the First Island (of 325 hectares) in July 1997 in waters of depth 0.5m to 2.0m ACD. The scope of works included reclamation of land, slope protection and the construction of a bunded enclosed body of water.

The First Island was completed on 31 August 1999, and was handed over to its purchasers, TNB Janamanjung Sdn. Bhd. for the purposes of construction and operation of a coal-fired 2,100 MW Power Station, and LBT, for the purposes of its very deep water bulk terminal, pursuant to Site Acquisition Agreements executed in January 1999.

Project Directors - First Island	Harun Halim Rasip Ahmad Jauhari Yahya
Employer's Representative	Terra Geotechnics Sdn. Bhd.
Contractor	Van Oord ACZ

LBT executed a Jetty Terminal Usage Agreement with TNB Janamanjung Sdn. Bhd. in August 1999 for the provision of coal unloading and delivery services to the Power Station, thus securing an anchor customer. LBT commenced the construction of Phase I of the dry bulk terminal in May 2000, comprising berths able to accommodate Capemax and Panamax vessels with water depths alongside of 20m ACD, a 2,000m trestle, 2 grab discharge cranes, mechanised handling equipment and controls and appropriate onshore support facilities.

In 30 June 2000, LBT achieved financial close with the issue of an RM445 million Serial Bond rated AA3 by Rating Agency Malaysia Bhd on a nonrecourse project finance basis.

Project Director	Harun Halim Rasip
Employer's Representative	Amin Halim Rasip
Financial Advisors	HSBC Investment Bank Plc
Lead Manager	HSBC Bank Malaysia Bhd.
Legal Advisors	Wong & Partners
Insurance Advisors	Bradstock Insurance Brokers Sdn. Bhd.
Engineering Consultants	GHD Pty Ltd, Australia
Contractor	Leighton Contractors (Malaysia) Sdn. Bhd. with sub-contractor Koch Transporttechnik GmbH

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