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[Malaysian Reserve] Matrix acquires 164 acres land for RM71.5m

Property developer Matrix Concepts Holdings Bhd (MCHB) has acquired 164 acres of industrial land in Seremban, Negri Sembilan, for RM71.5 million.

The new landbank is slated for development of a full-facility industrial park, Sendayan Techpark (STP) with estimated gross development value of at least RM170 million.

STP is situated near the company’s existing 1,000 acres Sendayan Techvalley (STV) which is an industrial component of Bandar Sri Sendayan in Seremban (BSS), which is MCHB’s integrated township.

The new industrial park will enlarge the company’s industrial land bank to 1164 acres in total, the company said in a media statement on last Friday.

Chairman Datuk Mohamad Haslah Mohamad Amin said the existing two phrases of STV have been well received.

“The existing two phases of STV have been very well-received with more than 760 acres sold to date, mainly to leading high-technology manufacturing companies across the globe.

“We are proud that STV has attracted more than RM3.8 billion in foreign direct investment since 2013,” Mohamad Haslah said.

STV has attracted international investors from all over the world, including Japanese Hino Motors, Akashi-Kikai and Nippon Kayaku, UK’s Weir Group, France’s Messier-Buggatti-Dowty, Germany’s Schmidt + Clemens and China’s Hubei Dijian Construction.

Currently, four of these facilities have commenced operations.

The company said STP is a timely addition to the current industrial land bank to attract even more international partners and to sustain its continuous development in Seremban.

“Undoubtedly, STV and STP are poised to be the hub for world-class manufacturing, facilitating the transfer of high technology into Malaysia and building a highly-skilled workforce.

“We believe these industrial developments will be instrumental in helping the country’s manufacturing sector make a significant leap up the value chain,” the company said in the statement.

Mohamad Haslah said the continued developments in STV and STP has created a great impact on the entire BSS township in the long run.

“The tremendous job creation in our industrial lands will have positive spillover effects on the demand for residential properties and commercial properties in BSS.

“We are optimistic this will in turn help to sustain and enhance our company’s earnings the future,” concluded Mohamad Haslah.

The land was acquired by the MCHB’s wholly owned subsidiary BSS Development Sdn Bhd from Palipadu Sdn Bhd.

The acquisition will be equally funded by internally generated funds and bank borrowings. The land acquisition is estimated to be completed by end-2014 and proposed development is expected to commence in 2015.