CSSB sells land in Pulau Indah Industrial Park to Tri-Mode for RM17m

KUALA LUMPUR (Aug 14): Central Spectrum (M) Sdn Bhd (CSSB) inked a deal with Tri-Mode System (M) Bhd today for the disposal of a 2.18-hectare industrial land in Pulau Indah Industrial Park, Phase 3C (PIIP 3C) for RM17 million.

CSSB, the master developer of Pulau Indah Industrial Park and owned by the Selangor government via Menteri Besar Selangor (Incorporated), said Tri-Mode would use the land to build its third warehouse cum distribution hub as part of its phase three business expansion plan.

“Tri-Mode will construct a new Class A warehouse and distribution hub with a built-up area of approximately 150,000 square feet with a total investment value of RM42 million,” CSSB said in a statement yesterday.

CSSB chief executive officer Mohamad Razif Abdul Wahab said Pulau Indah is an ideal location for companies that intended to nearshore their supply chains.

“The strong presence of multinational corporations (MNCs) and local corporations, such as Tri-Mode, IKEA, Oleon, and Mewah Oil, represented a true testimony of what Pulau Indah has to offer,” he said.

To facilitate these investments, Mohamad Razif said Invest Selangor Bhd serves as a one-stop agency in providing information, advisory services, as well as startup or expansion assistance to potential and existing investors.

Tri- Mode group managing director Datuk Hew Han Seng said the company was “thankful to CSSB  for the confidence towards Tri-Mode as the initial purchaser for the PIIP project in 2016. We have commenced our operations at our new headquarters and distribution hub on March 29, 2021, fulfilling our promise to build and operate once vacant possession is delivered to us as per the stipulated timeline.”

Moving forward, CSSB said being a Selangor state-affiliated entity, it is confident that significant progress would be made within the next six to 12 months as it embarked on wide-ranging efforts to not only address the needs of MNCs but also support the export and domestic-driven Malaysian industries as they navigate the unique challenges brought on by the economic and social impact of COVID-19.

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