Matrix targets RM770m sales from industrial park

KUALA LUMPUR: Matrix Concepts Holdings Bhd, which is en route to list on Bursa Malaysia on May 28, plans to sell an estimated RM770 million of the remaining land in its Sendayan TechValley industrial park development within the next five years. According to key company executives at the launch of Matrix’s prospectus yesterday, the developer is also looking for more foreign takers for the industrial park.

Matrix chairman Datuk Mohammad Haslah Mohammad Amin said Sendayan TechValley would attract those in the automotive and aviation-related industries, given its close proximity to Kuala Lumpur International Airport and the Nilai Inland Port.

“With our strategic location, ready infrastructure and growing catchment population at Bandar Sri Sendayan, we are confident that Sendayan TechValley will bring in many global corporations in the future.”

Haslah said the industrial park has attracted foreign manufacturers pledging to invest more than RM2 billion. Among these are Japanese automotive parts manufacturers Nippon Kayaku Co Ltd and Akashi-Kikai Industry Co Ltd, Taiwanese recycler TMC Metals and French conglomerate Messier-Bugatti-Dowty.

Matrix, based in Negri Sembilan, is embarking on an ambitious integrated township development in Bandar Sri Sendayan, Seremban, encompassing 2,117ha with an estimated GDV of RM5 billion. Sendayan TechValley is the project’s industrial component, spanning 404ha of freehold land.

The group is banking on the increasing migration of Klang Valley residents seeking lower property prices in Seremban for the residential development. According to Matrix CEO Datuk Lee Tian Hock, demand is increasing and more residents are seeking  accommodation in Bandar Sri Sendayan.

“Our purchasers are mainly owner-occupiers, so they are here to stay. We have seen an influx of purchasers from the Klang Valley as the prices of our properties are more affordable.”

As part of the Greater Klang Valley Conurbation, Bandar Sri Sendayan is located close to town centres and major expressways.

Matrix aims to raise RM137.5 million from its IPO with a public issue of 62.5 million new ordinary shares and 37.5 million vendor shares.

For the public issue, 10 million shares are allocated for public balloting, 8.8 million for eligible directors, employees, and associates, and the remaining 43.7 million for private placement. As for the vendor shares, 32.5 million will be allocated to bumiputera investors approved by the International Trade and Industry Ministry, and the remaining five million shares for private placement. The offer price is RM2.20 per share.

This article first appeared in The Edge Financial Daily, on May 9, 2013.

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