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Matrix Concepts acquires 164-acre industrial land for RM71.5 million [PRESS RELEASE]

  • To extend success of existing Sendayan TechValley industrial park in Seremban, Negeri Seremban
  • Aim to generate at least RM170 million gross development value in the future

Seremban, Negeri Sembilan, Malaysia, 19 September 2014 – Leading Negeri Sembilan property developer Matrix Concepts Holdings Berhad (Matrix Concepts; 金群利集团; Bloomberg: MCH:MK; Reuters: MATR.KL) is beefing up its industrial land bank with the acquisition of 164 acres of industrial land in Seremban, Negeri Seremban for RM71.5 million.

The 164-acre land is near the existing 1,000-acre Sendayan TechValley (STV) industrial park in Seremban and represents an additional full-facility industrial park for the Group. The new land will enlarge the Group’s industrial land bank to 1,164 acres in total.

The newly-acquired land – of which nett sellable area comprises approximately 75% of the land, nett of land for infrastructure – is expected to generate gross development value (GDV) of at least RM170 million from the financial year ending 31 December 2015 onwards.

Dato’ Haji Mohamad Haslah bin Mohamad Amin, Chairman of Matrix Concepts Holdings Berhad, said:

“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.

The new land – dubbed Sendayan TechPark (STP) – is a timely addition to our industrial land bank to attract even more international partners and to sustain the Group’s 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. In this manner, we believe these industrial developments will be instrumental in helping the country’s manufacturing sector make a significant leap up the value chain.”

Read the full press release here.