Yes, you will see the Proboscis Monkey there (and also lots of Silver Leaf Monkeys) up close, but...
...the owner of the sanctuary portrays himself as a saviour of these amazing animals, but in fact he's one of the reasons such sanctuaries have to created in the first place - he own the plantations for which they deforested massive parts of Borneo and only left a tiny bit for the sanctuary. The conditions for the monkey seem far from perfect too. The feeding platforms are positioned in scorching sunlight, so the monkeys just grab the food and run for shade. Overall not a pretty view. And the tickets are expensive (60 MYR for adult + 10MYR for camera fee) compared to real sanctuaries like the Orang-utan sanctuary in Sepilok. So it feels like the owner just wants to make extra money from his plantation by getting tourists to pay to see the monkeys.
Ask most local tour operators in Sabah and they will also advise against going to Labuk Bay. If you have a bit of time, see the monkeys in their natural habitat by going to the Kinabatangan River - you'll see lots of them and close, and they look much happier in the pictures.
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