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PETALING JAYA (Aug 17): Property developer NCT Group of Companies (NCT Group) has partnered with Future Inno Park Sdn Bhd to promote Kuala Langat Industrial Hub to become the “industrial hub of choice” for the electrical and electronic (E&E) industry.
Located at the border between the Kuala Langat and Sepang districts in Selangor, the industrial hub is expected to generate vast interest from industry players and investors from local and overseas, said NCT group founder Datuk Sri Yap Ngan Choy in a press statement.
The company has inked a memorandum of understanding (MOU) with Future Inno Park director Datuk Jeffrey Ng Chin Heng today, the ceremony was witnessed by Datuk Teng Chang Khim, Bandar Baru Klang assemblyman and Selangor State Senior Executive Councillor (EXCO) for Investment, Industry, Commerce and SME.
In a press statement today, Yap said the MOU would pave the way to introduce the project to foreign investors in the international market, leveraging on Ng’s extensive business network in China, including Suzhou, Nanjing, Guangdong and Fujian.
Ng noted that there are many foreign E&E firms looking to relocate their businesses to Malaysia to diversify their production.
“The Ministry of International Trade and Industry (MITI) reported in June 2020 that it had a pipeline of investment projects worth about US$13 billion (about RM54.51billion). The Kuala Langat Industrial Hub is the perfect investment location to feed the demand of these investors. We are excited to collaborate with NCT Group in this matter,” he added.
Meanwhile, Teng said the Selangor government welcomed developments that would contribute positively to the economy and earnings of the state.
“Selangor has long been known as the main investment location in Malaysia and is the perfect gateway to the ASEAN market. We are ready to supply a strong E&E base, good local engineering supporting cluster and talent to fulfil all investment needs,” he added.
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