Jul 08, 2015 Last Updated 5:59 AM, Jul 7, 2015

News

SIME DARBY Property (Utara) Sdn Bhd and Penang Development Corporation (PDC) are set to develop a high-tech industrial park in south Seberang Prai for small and medium-sized enterprises (SME).

The project is expected to make south Seberang Prai an economic growth centre in Penang, in line with the state government’s plans.

Sime Darby Property signed a memorandum of understanding on the project with PDC at the end of last month.

Chief Minister Lim Guan Eng said the signing marks an important milestone as it symbolises the cooperation and synergy between the Sime Darby and the state’s development agency, for the development of the agricultural area in Byram and Changkat in south Seberang Prai as an industrial park.

He said the collaboration was in line with the state’s emphasis on promoting industrial development and small and medium-sized industries.

“Sime Darby’s plans for developing the land is very much in line with the state government’s aspirations to enhance SMEs,” he said, adding that the Sime Darby SME High-Tech Park will have an estimated gross development value of RM1.8bil.

 

He noted that under the agreement, both parties would formulate a master plan that was mutually agreed upon.

Under the Byram/Changkat Master Plan, Sime Darby will develop 376.3ha (929.8 acres) of land for SMEs, while PDC will develop 1,625.8ha for heavy industries, SMEs and mixed development.

“Each party is responsible for the environmental impact assessment for their portion of the project,” he told a press conference in Komtar.

Lim added that InvestPenang, the state’s investment promotion agency, would promote Sime Darby and PDC’s portions of the project, including screening companies interested in being located in the park.

Sime Darby Bhd president and group chief executive Tan Sri Mohd Bakke Salleh said the company had long realised south Seberang Prai’s potential as a major industrial area.

“We are confident we will witness the growth of this area in the next eight years. That is why we applied last year to rezone three plots of land in Byram Estate, measuring 376.3ha in total, into industrial land from agricultural land.

“This development will definitely have a positive effect for the area and other sectors of the economy, including housing and hospitality, which will benefit Penang as a whole.

“But most importantly, it will provide more jobs in which new skill sets will be developed,” he added.

Sime Darby Property acting managing director Datuk Jauhari Hamidi, Sime Darby Property senior vice-president Mohd Salem Kailany, PDC general manager Datuk Rosli Jaafar and PDC deputy general manager Chang Wing Mow signed the MoU, witnessed by Mohd Bakke and Lim.

BUTTERWORTH, July 3 (Bernama) -- UDA Holdings Bhd (UDA) plans to launch three projects in Penang this year with a Gross Development Value (GDV) close to RM2 billion.

Group Chief Operating Officer for Property Development Datuk Mohamed Marzuk Basir said the projects were an integrated commercial and residential development with a GDV of RM1.2 billion, lifestyle project in Bertam worth RM600 million and two blocks of apartments, on wakaf land, with a GDV of RM23 million.

"Shop offices under the Arcaria series would be launched next month with selling prices of between RM800,000 and RM1.6 million involving 114 units," he told reporters after breaking fast with 70 orphans from Pusat Inapan Kasih Sayang, Thursday night.

Mohamed Marzuk said UDA would also launch a 300 unit apartment project, priced between RM390,000 and RM450,000 per unit.

He said there was demand for the Arcaria project, however, potential buyers faced difficulty in securing loans as a result of tight lending policies by Bank Negara Malaysia.

He said UDA was working with several banks by presenting them the merit of the project, as well as, offered packages with furniture or electrical items to attract buyers.

Mohamed Marzuk said a gated and guarded lifestyle project would be launched in Bertam, worth RM600 million, consisting of double and three-storey bungalows.

He said the 68-unit apartment project on wakaf land would be a collaboration with the Penang State Religious Council and would be launched next month.

Besides Penang, Mohamed Marzuk said UDA also planned to launch shop offices and serviced apartment, a project in collaboration with Perak State Religious Council in Ipoh, Perak, early next year with a GDV of RM32 million.

He said UDA would also partner the Perlis State Economic Development Corporation this year to develop an integrated project in Kangar consisting of a 12-storey office building, shopping mall and shop offices with a GDV of RM106 million.

-- BERNAMA


KUALA LUMPUR, June 29 (Bernama) - Scientex Bhd's wholly-owned subsidiary Scientex Quatari Sdn Bhd, has acquired 130.4 hectares (ha) of freehold land in Pulai, Johor Baharu for RM219 million from two vendors.

The first piece of land measuring 100.8ha was acquired from Bukit Gambir Company Sdn Bhd while the remaining 29.6ha was bought from Jayaplus Bakti Sdn Bhd, the global packaging manufacturer and property developer said in a statement Monday.

The land is located near the company's integrated township development in Skudai.

Scientex managing director Lim Peng Jin said despite the current dampened market sentiment, the company remained optimistic of sustained demand for residential properties in Johor.

"This comes from our substantial focus on building affordably priced landed homes which still see resilient demand.

"The new land will benefit from good road connectivity to the Johor Baharu City Centre and Singapore, and would contribute positively towards our future development profile," he said.

The acquisitions are expected to be completed in the fourth quarter of 2015, pending approvals from the shareholders at the company's upcoming extraordinary general meeting and authorities.

Scientex recorded a higher pre-tax profit of RM55.5 million for the third quarter ended April 30, 2015 compared with RM48.1 million in the same quarter a year ago.

Revenue grew 6.7 per cent to RM455.3 million from RM426.8 million previously, attributed to higher revenue by the manufacturing segment comprising sales of consumer packaging films and enhanced by the affordable residential projects in Johor.

Lim is confident of the company's prospects for 2015, given the rapid progress in the manufacturing segment, while it strives to secure a wider pie of the global flexible packaging market and improving its operational efficiency.

-- BERNAMA