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Matrix Concepts buys industrial land in Seremban with GDV of RM170m

KUALA LUMPUR (Sept 19): Matrix Concepts Holdings Bhd is acquiring 164 acres of industrial land in Seremban for RM71.5 million which it expects to generate a gross development value of at least RM170 million from end-2015.

In a statement Friday, the company said the land, near the existing 1,000-acre Sendayan TechValley (STV) industrial park in Seremban, represents an additional full-facility industrial park for the group.

It said the new land would enlarge its industrial land bank to 1,164 acres in total.

Matrix Concepts Chairman Datuk Mohamad Haslah Mohamad Amin said the existing two phases of STV had been very well-received with more than 760 acres sold to date, mainly to leading high-technology manufacturing companies from across the globe.

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

Mohamad Haslah said the new land – dubbed Sendayan TechPark (STP) – was a timely addition to the company’s industrial land bank to attract even more international partners and to sustain its development in Seremban.

He said the sales and purchase agreement for the land acquisition was executed between Matrix Concepts’ wholly-owned subsidiary BSS Development Sdn Bhd and Palipadu Sdn Bhd for RM71.5 million, translating to a purchase price of approximately RM10 per square foot.

Mohamad Haslah said the acquisition would be equally funded by internally generated funds and bank borrowings.

He said the land acquisition was estimated to be completed by end-2014 and development expected to commence in 2015.

Mohamad Haslah said STV had attracted international investors from all over the world, including Japan (Hino Motors, Akashi-Kikai, Nippon Kayaku), the United Kingdom (Weir Group), France (Messier- Buggatti-Dowty), Germany (Schmidt + Clemens) and China (Hubei Dijian Construction). Currently, four of these facilities have commenced operations.

STV is the industrial component of Matrix Concepts’ flagship integrated township of Bandar Sri Sendayan in Seremban (BSS).

 

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