Menang Corp plans to develop land around its PFI project in Seremban 3

KUALA LUMPUR (Dec 20): Menang Corp (M) Bhd plans to develop the land surrounding its RM300 million UiTM Campus Private Finance Initiative (PFI) project in Seremban 3, to cater to the estimated 6,000 potential population of students and staff.

Group managing director Datuk L K Shun said the land area to be developed is approximately 190.2 hectares in size.

"We anticipate a spill-over effect from the campus once it is completed, and it will change the business landscape of the area tremendously.

"We're looking at developing apartments, single-storey houses, shophouses as well as neighbourhood shopping destinations, to take care of the population that will be residing in the area," he told reporters after the group's annual general meeting today (Thursday).

The group also has over 27.1 hectares of land in Tanjung Malim and 60.7 hectares of land in Klang, the latter jointly owned with some partners.

For the next three to four years, the group has its plate full with two other PFI projects, namely the proposed RM260 million UiTM Campus at Puncak Alam and the RM101 million UiTM Training Institute at Nilai.

"Each project, once completed, would give us 20 years of quality cash flow and we're optimistic on the prospects that these three projects can offer, whereby the first project can potentially bring us RM49 million a year," Shun added.

On the UiTM Seremban 3 campus progress, executive chairman Datuk Abd Mokhtar Ahmad said it is on track for completion by Jan 18, 2014, with 70% now completed, while the UiTM Puncak Alam, a 36-month contract beginning in October, has already commenced earthwork construction.

"We have selected a contractor for the UiTM Training Institute in Nilai, and we're in the midst of finalising the contract, before we finalise funding sources for the project," he added. — Bernama