UK-based Mace Group to invest RM3b in M'sia

KUALA LUMPUR: The Mace Group (MACE) of the United Kingdom, a global consultancy and construction giant will invest RM3 billion in Malaysia over five years, thus giving foreign direct investment (FDI) in the country a timely boost.

MACE has inked a Memorandum of Understanding (MoU) with Corridor Development Corporation Bhd (CDC), an investment promotion agency for future development projects in Malaysia, particularly in the regional development corridors.

Mace Group director Mark Richards said the group is set to work closely with CDC on a number of construction, real estate and industrial projects in the development corridors.

He said MACE in the intial stage, is looking at between RM200 million to RM300 million investments in construction-related projects, particularly in the Sungai Rambai development projects.

With a portfolio including the tallest skyscraper in Europe, London's renowned "Shard of Glass", as well as building work around the 2012 Olympic Games in London, MACE now has a foothold in Malaysia, Richards said."We are starting discussions with CDC on specific projects and we expect activities between us to roll out in the first two quarters of next year," he told Bernama in an email.

The five economic development corridors are the Northern Corridor Economic Region (NCER), Eastern Corridor Economic Region (ECER), Sarawak Corridor for Renewable Energy (SCORE), Sabah Development Corridor (SDC) and the Iskandar Development Region (IDR).

Meanwhile, CDC group chairman Datuk Muhammed Kassim said the target is to bring in another RM30 million to RM50 million in investments next year, both locally and from overseas, for projects in Malaysia.

He said the company would be concentrating on bringing in FDIs for the services and manufacturing-related industries.

Muhammed said the company currently has a number of development and construction projects in hand with a gross development value (GDV) of RM5 billion.

These include the development of the Sungai Rambai New Township project, Sungai Rambai Enterprise Zone, the re-development of Sungai Rambai old-town project, development of Jasin Smart City in Melaka and development of the Tanjung Agas Oil & Gas and Logistics Industrial Park in Pekan, Pahang.

"We are also currently in the process of negotiating with the Negeri Sembilan State Economic Development Corporation in developing the Gemas New Township, and with the Kedah state government for the development of the Kedah Convention Centre in Sungai Petani," he said.

Muhammed also said the company had entered into a 70:30 joint venture with the Melaka state government, for a mixed development of higher institutions, with a GDV of RM1 billion.

He added MACE would be appearing as a joint partner to take up the construction section of the development.

"It is our hope that through this MOU, both CDC and MACE can promote further our strengths in business and development and project management in the five development corridors," he added.

CDC has been established to complement the government's effort in attracting and facilitating domestic and foreign investments into the economic development corridors. — Bernama