Invest Malaysia - 28 June 2016

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    THE STAR, TUESDAY 28 JUNE 2016

    special

    INVEST MALAYSIA

    Looking to the future

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    invest malaysiaTHE STAR,

    TUESDAY 28 JUNE 2016

    Once completed, TRX is set to become a world-class financial and commercial hub that will enhance the nationscapital.

    The entire TRX district will be walkable, with shaded routes and connections between the MRT station and shopping mall through the park.

    DELLED after global financialtres such as Canary Wharf in

    ndon and Marina Bay ingapore, the Tun Razakhange (TRX) development was

    nceived to create a financial andmmercial hub for Kuala Lumpurt is truly world class.t will be one of the mostnsformative urban regenerationjects for the city, injecting newinto the area and redefiningfuture central business district

    Kuala Lumpur.As a financial and commercial

    tre, TRX aims to create ainess ecosystem that enables

    mpanies to be more efficientause of the ease and

    nvenience that it offers accessa larger pool of talents,ximity to customers and

    tners, and greater opportunitiesnetworking.

    The 70-acre (28.3ha) districtasts grade-A office space,lusive residential towers andels, and hospitality, retail andure offerings that offerrld-class work, live and playvironment with an estimatedss development value of40bil.art of the Governmentsnomic Transformationgramme, TRX represents the

    ysical nucleus to focus theundwork that Malaysia has

    ne both in conventional andmic finance and provide a

    ysical hub to financial players

    d investors.Aside from the clusteringnefits of world-class financialtitutions and homegrown

    mpanies in one place, TRX also help in branding

    ala Lumpur as a globalancial city, providing a world-ss setting to support the citysure growth and job creationshin the financial and servicestors.

    Essentially, the TRX project is anestment opportunity especiallyinvestors and financiers whoKuala Lumpur as a leadingerging international financial

    y and first global hub of Islamicance.

    This proposition has appealed toal and foreign investors alike.Xs roster of investors includesbal infrastructure and propertyup Lendlease, Indonesianperty giant Mulia Group, Veoliater Technologies, Affin Bankhad, Lembaga Tabung Haji andWCT Group.ts master developer TRX City

    n Bhd, which changed its namem 1MDB Real Estate Sdn BhdDecember, is in the final stage

    an ownership transfer to theance Ministry.

    With this, TRX City now has amer, more focused footing toate a dedicated financial hubMalaysia.

    This year has recorded stronggress for the project. In May,concrete pouring for the

    nature Tower, involving assive 20,000m3mat foundation,k place over two days one ofbiggest concrete pourings seenhe world.

    The construction of thenature Tower developed bylia is rapidly progressing. Thely development of the tower is

    crucial to the maturity of TRX as awhole, as it acts as an anchorlandmark to the entire project.

    It can also help catalyse thephysical development for otherparts of TRX and support theestablishing of the overall TRXbrand.

    The tower, which is currently theonly building in TRX offering officespace for lease, will comprise 92floors, with massive column-freefloor plates averaging at 34,000sqft. It is located within theprominent Financial Quarter ofTRX, fronting Jalan Tun Razak andJalan Sultan Ismail.

    The development of TRXsLifestyle Quarter has also seensolid progress since April, withrock blasting and excavation worksbeing carried out.

    The retail-led mixed-usedevelopment, which has a forecastgross development value of morethan RM8bil, is a joint undertakingbetween TRX and Australias

    Lendlease.It occupies more than 17 acres

    (6.9ha) and, when completed,will comprise a new retail mall,several residential towers and ahotel, all connected to a roof-top

    central TRX park.The design and planning

    approval process for the lifestyleand residential components iscurrently in the advanced stages,and the development is expectedto be launched in the second halfof this year.

    Ensuring the district isseamlessly connected andaccessible has been a priority toTRX. Apart from hosting two MRTlines the Sungai Buloh-Kajangline and the Sungai Buloh-Serdang-Putrajaya line TRX will alsoundertake improvements of theroad connectivity in the area, withnew access points and an upgradeof existing roads.

    The areas surrounding TRX arealready seeing value uplifts asinvestors and real estate playersanticipate the benefits of beingclose to an international financialdistrict and a significantimprovement in connectivity.

    In early June, TRX City started

    the tender process for the nextphase of its infrastructure work:the proposed traffic dispersal andimprovement to part of Jalan TunRazak, as well as construction ofthe TRX ingress and egress.

    This contract will include theconstruction of Jalan Tun Razak-TRX Ingress and Egress(underground tunnel), MEX-TRXIngress (elevated), SMART-TRXIngress and Egress (undergroundtunnel), and related works.

    TRX is spending an estimated

    RM3bil on its infrastructure to turnthe 70-acre (28.3ha) land into atruly accessible internationalworld-class financial hub.

    This involves creating a looptunnel system for TRX, whichprovides direct access to and fromthe major highways and to variouspoints within the development,giving the district the bestconnectivity in the city.

    The TRX Master Plan alsoincludes rejuvenating andregenerating the surroundingareas such as Bukit Bintang, a planthat is aligned with Kuala LumpurCity Halls vision to enhance thecity and turn it into one of 20 mostliveable cities in the world.

    Moreover, TRX has in placea solid sustainability agenda it is investing in green facilitiescovering waste watermanagement, digital infrastructureand public spaces to create a truly

    sustainable internationalfinancial district.

    One of the advantages for TRXbeing developed at a master planlevel is that, apart from havingbuildings that meet a requiredlevel of sustainability, its largeinfrastructure is outfitted at the

    district level this allowsbusinesses and residents to beeven greener.

    TRX is currently partneringwith Veolia Water TechnologiesSoutheast Asia for wastewatertreatment and recycled watersupply.

    A key component of itssustainability framework, thedistrict will be supported byVeolias onsite water treatmentsystem to reduce waterconsumption by recycling morethan 90% of the wastewater.

    This recycled water is to beused mainly for toilet flushing,cooling and irrigation and isexpected to cut potable water

    demand from Syarikat BekalanAir Selangor (Syabas) by abouthalf. The recycled water will alsobe used for irrigation of the12-acre (4.9ha) TRX central park,the green lung at the heart of thedistrict.

    The park and the rest of TRXlandscape are important elementsin helping the district create adesirable open space in making ita pedestrian-friendly district.

    The entire TRX district will bea walkable neighbourhood withshaded routes, includingconnections between the MRTstation and the shopping mallthrough the park.

    Squares, gardens and parks

    will all be connected via anetwork of water features andstreets lined with mature trees.

    Grant Associates, the consultantfor distinctive sustainablelandscape such as SingaporesGardens by The Bay, has beenchosen to design TRXs PublicRealm.

    nFor more information,visit trx.my.

    World-class transformation

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    3THE STAR,TUESDAY 28 JUNE 2016

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    invest malaysiaTHE STAR,

    TUESDAY 28 JUNE 2016

    Booming capital of creationthe heart of Malaysiasnsformation into a digital-basednomy is the city of Cyberjaya,ich has grown since its launch

    1997 to become the Globalhnology Hub for Malaysia.olidifying its position as amier information and

    mmunications technology (ICT)ation in the region, Cyberjayahifting its focus fromrastructure to value-addedivities such as the developmentontent and applications, whileating the ecosystem to spurrepreneurship, creativity andovation.pearheading this development

    he tech hub enabler Cyberviewn Bhd, which developsberjaya, now billed as Malaysiaspital of Creation, into the primeation for inventors, innovators,estors, entrepreneurs andrt-ups in the region to introduceir technological innovations.

    The company started out as thedowner of Cyberjaya and wentto facilitate land sales andses as well as construction in thea. By 2011, Cyberview haden on the responsibility ofving the growth of Cyberjayao a Global Technology Hub.Today, Cyberviews chief role isbuild reliable infrastructured a broad-based ecosystem

    mprising collaborators andtners with the technology andacity to help realise the goals ofrepreneurs, innovators andestors.

    ollaborativefrastructureAccording to Cyberviewsnaging director Faris Yahaya,

    berjayas journey is part oflaysias aspiration to become ah-income economy rooted inital innovation.We intend to be fully recognised

    a global tech hub by 2020, ands is a continuous work ingress we are constantly

    ding new milestones as we bringw collaborators and projects onard, says Faris.Building an environmentnducive to technological and

    iness growth is Cyberviewsority in meeting this goal, andSmart City initiative is a key

    mponent of strengtheningrastructure and improvingality of life.or example, the Low Carbon

    y Framework was implementedlign and mobilise green efforts,

    ming to reduce Cyberjayas

    carbon emissions by 21% by 2020.These plans are part of

    Cyberviews Smart City 5 Year RoadMap, which consists of four phases:introduction of smart cityfoundation last year, promotingconsumption of smart citysolutions this year, integratingsolutions for control andmonitoring from 2017 to 2018, andpromoting widespread access andadoption from 2019 to 2020.

    Last year in July, Cyberviewsigned a memorandom ofunderstanding (MoU) with MIMOSas one of the key initiatives underCyberjaya Smart City Initiative. TheMoU focuses on making Cyberjaya

    a model Smart and Safe Citythrough the IoT (Internet ofThings).

    Cyberview is working onestablishing a City InnovationCouncil to provide endorsement,assistance and guidance for smartcity projects in Cyberjaya.

    This is based on the four smartcity pillars infrastructure,economy, environment and social spanning industries such as retail/consumer, financial services,healthcare and education.

    These projects will furtheremphasise the application of thenine tech focus areas of the GlobalTechnology Hub: informationsecurity, creative content, mobile

    Internet, cloud computing, big dataanalytics, green technology,biotechnology, wearabletechnologies, and smart gridtechnology, which are within thecontext of smart city and urbanlifestyle.

    Cyberview further championscollaborative innovations throughthe setting up of CollaborationCentres, which encourageborderless development among the800 odd companies consisting ofhighly qualified technologyprofessionals.

    Existing properties have beenrefurbished into collaborationcentres that focus on creativecontent creation, cross-sectoral

    development in IoT and big datafor the development of smart citysolutions, and biomedic that willcomplement Cyberjaya Hospitalthrough this technology focus area.

    The use of spaces such asthese can combine products,technologies and skills to helpnurture and build solutions acrosssectors.

    In addition, high-speed Internetof up to 1GB per second wasrecently made available by AriesTelecom, and the WirelessCyberjaya project launched late

    last year expands the wirelessbroadband coverage and improvesspeed connections across 127access points.

    Come next month, Cyberjaya willalso become the first townshipwhere network operators can offer

    high-speed Internet and 4G LTEconnectivity.

    This is courtesy of the 22high-speed mobility solutions thatwill be deployed by Axiata GroupBhds telecommunicationinfrastructure arm edotco MalaysiaSdn Bhd.

    Innovation launch pad

    Such efforts are surelyencouraging on Cyberjayasjourney towards becoming a self-sustaining technology hub, butFaris emphasises that innovationcan only go so far with a stringenttop-down approach.

    Innovation needs to be

    nurtured from the ground up,responding and reacting to marketforces and demands. Our role asthe tech hub enabler is to set theconditions to facilitate thedevelopment of these solutions andthen take a step back to let themagic happen, he says.

    In tandem with this, Cyberviewlaunched its Living Lab initiative,which turns Cyberjaya into aninnovation platform for talents,start-ups, pilots and enterprises totest out and validate theirtechnologies.

    Inventors and entrepreneursare invited to use Cyberjaya astheir very own tech innovationplayground by trying out ideas,technologies and prototypes in thecity before they are more widelyadopted in other cities and

    countries.Four programmes are carried

    out under the Living Labsinitiative:lLiving Lab Talent

    Cyberview drives programmesencouraging entrepreneurs tobring their ideas and innovationsto the next level, by leveragingindustry leaders technology andbusiness skills to nurture andempower students, women andsmall and medium enterprises(SMEs) into a high-skilledworkforce.

    lLiving Lab Accelerator Thisprogramme houses start-ups, suchas TheLorry.comthat managed to

    secure a series A funding worthRM9.6mil.

    These companies have access tocapital, experienced mentors andprominent start-up leaders throughgovernment agencies such asCradle Fund and the MalaysianGlobal Innovation and CreativityCentre (MaGIC) as well as amplespace for inter-venturecollaborations.

    lLiving Lab Pilot AsCyberjaya is a growing pre-commercialisation innovationplayground, Cyberview facilitatesrelationships with various partnersto test out prototypes and conceptsthat could be of value to the

    township.

    lLiving Lab Enterprise Withmore than 800 technologycompanies in one city, Cyberviewalso connects SMEs with profitablepartners giving businesses theright push to thrive with essentialbusiness and digital skills training,industry updates, technicalupskilling, funding accessfacilitations and market access.

    Eye on the futureSeveral companies have chosen

    Cyberjaya as their innovation testbase, including homegrownanimation house AnimonstaStudios, ride-sharing servicesprovider Tumpang, currency

    exchange platform MoneyMatch,cloud-based social review platformIttify and multi-operating-systemsapp developer Terato Tech.

    Faris reveals that Cyberview isalso working on details with anotable media station looking toexpand its business to Cyberjaya inthe near future.

    Cyberview believes that this willextend benefits to the communitythrough cross-collaborationsbetween the station and contentdevelopers and providers.

    Besides collaboration spaces,soft landing zones and industrydevelopment programmes,companies are also attracted byCyberjayas comprehensive range

    of incentives and investor services.These include tax exemptions of

    up to 100% for up to 10 years aswell as grants and funding at anystage of the business life cycle.

    Excellent investor servicescovering tailor-made fiscalincentives, smooth and transparentfacilitation in regulatory matters,business matching for diverse andstrategic partnerships, site-selection assistance, and talentfacilitation greatly ease the growthof investments in Cyberjaya.

    Faris highlights the need forpositive and honest collaborationin achieving Cyberviews goals,with key stakeholders working todeliver its promise.

    We are always open to boldnew ideas, businesses andcollaborations. Cyberjaya as aliving lab has no fixed shape andeveryone can play a role in shapingthe future of Cyberjaya asMalaysias Capital of Creation, heconcludes.

    nFor more information, visitwww.cyberview.com.my orcall 03-8315 6111.

    Treasurysecretarygeneral of theFinance MinistryTan Sri Dr MohdIrwan SerigarAbdullah(centre) andCyberviewmanagingdirector Faris

    Yahaya (secondfrom right) atthe documentexchangeceremony fortheMemorandumof Collaborationwith IntelsecSdn Bhd.

    erjayas infrastructure development grooms it to become the nations Global Technology Hub.

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    5THE STAR,TUESDAY 28 JUNE 2016

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    The second soft launch of the Selangor International Expo 2016 officiated by the Selangor Mentri Besar Datuk SeriMohamed Azmin Ali (third from left) in Tokyo, Japan, on May 16.

    Hasan Azhari Idris,chief executiveofficer of InvestSelangor Berhad.

    invest malaysiaTHE STAR,

    TUESDAY 28 JUNE 2016

    Golden touchof Selangor

    LANGOR has always been at theefront of investment andvelopment in Malaysia. Dubbed

    golden state, Selangor is noty a prime location for potentialestors to make a mark here inlaysia, it is one of the states withbest accessibility to business

    d lifestyle infrastructure forestors and expatriates.nvest Selangor, the statesestment promotion agency, is

    ways on its toes to promote

    angor for foreign directestment (FDI) and domesticect investment (DDI).ormerly known as the Selangorte Investment Centre (SSIChad), Invest Selangor

    derwent a massive rebrandingrcise to emphasise its relevancehe local and foreign investmentne and create a lasting brandingpression. To date, Investangor has received excellentdback as a result of itsranding.

    This year has proved to be allenging year so far forestments across the board in

    ht of the recent slump in thebal economic climate due

    he drop in oil prices andMalaysian ringgit.

    However, Invest Selangorieves that every cloud has itser lining and these challenges

    w present themselves asportunities to allow Selangor tone as a premier investmenttination.The drop of the ringgit hasome quite the advantage as the

    rchasing power among investorsincreased and it is nowaper to purchase land, factoryand other infrastructures to

    rt a business here in Selangor,s Hasan Azhari Idris, chiefcutive officer of Investangor.

    According to Hasan, Malaysianorters also benefit from thewer prices compared with

    to uplift the startup ecosystem.This council is chaired by Datuk

    Teng Chang Khim, the Selangorstate senior executive councillorfor investment, industry andcommerce, small and mediumenterprises (SMEs) andtransportation. Sitec encouragesSMEs and start-ups to embracee-commerce and widen theirmarket to promote their products.

    Since last June, Sitec, underInvest Selangor, set a target of ahundred SMEs to go online in ayear by providing trainings ininformation technology ande-commerce. As of last month,Sitec surpassed the target with 170merchants who have gone online,

    says Hasan.Sitec is also responsible for the

    Selangor Digital Creative Centre(SDCC). Located in i-City ShahAlam, the 11,000sq ft (1,021.9sq m)centre comprises an incubatorand co-working space for SMEs,start-ups and some establishedcompanies in the e-commercesector.

    In March, Invest Selangorestablished the Selangor BioCouncil to meet the growingdemand for research anddevelopment and thecommercialisation of life sciencesapplications in the country.

    This council will compriseacademicians from University of

    Selangor (Unisel), CyberjayaUniversity College of MedicalSciences (CUCMS) and MalaysiaBiotechnology Information Centre(Mabic), representatives from theFederal Government such as theInternational Trade andIndustry Ministry (Miti),Malaysian InvestmentDevelopment Authority(Mida) as well as keyindustry players in the future.

    Biotechnology is one ofInvest Selangors focusindustries under thelife sciences wingbeginning with thedevelopment of a392.5ha site in

    Pulau Indah forthe Selangor BioBay project.

    This projectis still in itsinitial stageand will belaunched laterthis year. TheSelangor BioCouncil memberswill be in charge of

    previous years. Nevertheless, hehopes that the current economicclimate will improve by the end ofthis year to further boost revenuefor Selangor.

    Over the last 16 years (1999 till2015), the total direct investmentSelangor has received is valued atRM130bil.

    Last year, Invest Selangormanaged to attract up toRM7.9bil of investment in themanufacturing sector RM3.78bil

    of foreign direct investment andRM4.18bil of domestic directinvestment.

    In the establishing ofinvestments within the servicesector, specifically from globalestablishments, Selangor wasranked No.2 after Kuala Lumpurlast year, with investmentsamounting to RM1.6bil.

    This category covers a widerange of companies regionalfunctions and corporate services,including information technology,trading, distributions and financialservices.

    Invest Selangor has set aconservative estimate this year dueto the slump in the global economy.

    Last years investment target inthe manufacturing sector wasRM8bil but this year it is targetedat RM6bil, 24% lower than last yearto make way for the stabilisation ofthe economic condition andfurther appreciation of the ringgit,says Hasan.

    New horizons

    To further boost investmentopportunities in the state, InvestSelangor has set up councils tooversee industries that are nowbooming and gaining a globalmarket attention.

    The Selangor InformationTechnology and E-commerce

    Council (Sitec) was launched lastyear to develop Selangor as atrading centre for e-commerce and

    steering this project in terms ofdeveloping policies and facilitiesfor the bay.

    Another council that has beenapproved by the state governmentof Selangor is the SelangorAerospace Council, which isspearheaded by Datuk SeriMohamed Azmin Ali, the MentriBesar of Selangor.

    The inaugural meeting isscheduled for this year and willinvolve relevant key players fromthe government, industry andacademia.

    The aerospace industry is givena special focus because more than60% of the aerospace industry inMalaysia is located in Selangor. We

    want to leverage on Selangorsthree aerospace sites, which areSepang, Subang and Serendah (3S),of which the latter is developed byUMW. There are more investmentopportunities for hard metaltechnology on the Serendah site,says Hasan.

    Creating exposure

    Selangors service sectorcontributes 59.5% of Selangorsgross domestic product (GDP) andanother 29.5% is contributed bythe manufacturing sector.

    Hence, Invest Selangor islooking to boost both thesesectors by organising the Selangor

    International Expo 2016 for thesecond time running from Oct 20to 22 at the Mines InternationalExhibition and Convention Centre(MIECC).

    The expo aims topromote Selangor as aninvestment destinationand a gateway toinvestment opportunitiesin the Asean globaltrading hub in Malaysia.

    It is also an opportunityfor investors to learn about

    the infrastructure,logistic partnersand distributioncentres availablein Selangor and

    how they canleverage onthem, saysHasan.

    Since lastyear, Invest

    Selangor has been focusing on fiveindustry clusters, which areelectrical and electronics, transportequipment (especially in theautomobile and aerospaceindustries), life sciences (emphasison pharmaceutical, nutraceutical,biotechnology and medicaldevices), food and beveragesmanufacturing, and machineryand equipment.

    We narrowed down ourattention for SelangorInternational Expo 2016 from thefive clusters and concluded that weshould focus on life sciences, thehalal industry and e-commercebased on our discussions withvarious chambers of commerce in

    Selangor and Malaysia in general,says Hasan.

    Last year, the expo housed 400booths from foreign and localinvestors with a make-up of 46%foreign investors and 54% localinvestors.

    This year, Invest Selangor istargeting to showcase 600 boothsand as of now, 60% of the boothshave been reserved.

    The expo will be targeting tradevisitors from Asean nations, China,Japan, South Korea and someMiddle East nations.

    The second soft launch for theexpo was held in Japan duringInvest Selangors annualinvestment promotion mission

    there, and is part of its 23-cityglobal promotion mission.Such missions are part of the

    efforts taken by Invest Selangor toengage with foreign investmentchambers and conduct seminars topromote Selangor as an investmentopportunity.

    Since February, we have been tonine countries and more than 20cities around the world comparedwith just an average of five citieslast year. These missions were asuccess in creating awareness ofSelangors potential as aninvestment hub amonginternational industry players,says Hasan.

    According to the latest GDP by

    State, 2010 2014report publishedby the Department of Statistics,Selangor contributed 22.4% to thenational GDP, the highest of all thestates.

    Invest Selangor is optimistic thatthis trend will continue furtherwith its efforts to boost the growthof both the state and the country.

    nFor more information, visitwww.investselangor.my.

    SINCE the start of the year, newinvestment proposals have beenbuzzing in Selangor and theseprojects will not only contributeto the states GDP but will openup more job opportunities.

    1. UMW intends to establish ahard metal manufacturing parkin Serendah targeting theaerospace industry, where thecompany will manufacture fancases for aircraft engines for

    engine maker Rolls Royce.

    2. Airbus has chosen localengineering solutions providerSDMK Sdn Bhd as one of itsglobal suppliers of jigs for itscomposite repairs.

    3. UMW Toyota to investRM2bil in a secondmanufacturing plant that willbe located at the Bukit Raja

    Industrial Estate in Klang,Selangor, with land size of670,000sq m.

    4. Malaysia Airlines Bhdsparent company, MalaysiaAviation Group Bhd (MAG), hasproposed a joint venture withLufthansa Technik AG to setup a regional maintenance,repair and overhaul facility inMalaysia, which will be based

    in Selangor.

    5. Oji Holdings CorporationJapan officially opened its newplant with an investment ofRM40mil in Banting, Selangor,on June 2.

    It is equipped with state-of-the-art technology and willproduce disposable diapers anddeliver orders to targetedmarkets across South-East Asia.

    New waves

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    invest malaysiaTHE STAR,

    TUESDAY 28 JUNE 2016

    E East Coast Economic RegionER), comprising the peninsulart coast states of Pahang,engganu, Kelantan and thersing region of Johor, is noger one that is lagging innomic terms as it was longught to be.o much has happened in its

    vancement since 2007, especiallyce the ECER Developmentuncil (ECERDC), in collaborationh the state governments, laid

    wn the strategies and guided itsvelopment.This is a story that must be toldhat investors will know thatm today onwards, locating theirestments within this regionkes most sense for long-termwth and expansion.

    The region has continued toract both foreign and domestic

    estments of RM89.7bil,nerating 133,000 jobs andating 14,240 entrepreneursoss urban and rural areas inantan, Terengganu, Pahang andrsing in Johor.

    This momentum is set tontinue with the Governments

    port and strategic humanital, socioeconomicgrammes and infrastructurejects implemented under theand 10th Malaysia Plans.

    To further accelerate ECERswth towards becoming a

    veloped and high-income region,Government has allocated

    other RM1.2bil under the Rollingn 1 of the 11th Malaysia Plan

    MP 2016 to 2020) toplement 12 new high-impactjects and human capital

    velopment programmes.

    rategic game-changingfrastructureThe development of strategicrastructure in ECER is far fromr. More is being, and will be,

    ne.The Kuantan Port expansion thatl be completed by 2018 will bee of the game-changers. Oncempleted, it will be an 18m

    ught deep-water port with anditional 4km of berth spaceable of handling 52 million

    ight weight tonnes and vesselsup to 200,000 deadweightnage (DWT). The port will bee to take in the largest shipsh as those of the Panamax class.

    Kuantan Port is poised toome the Rotterdam of thet, where the expansion of thet will contribute to a quicker

    d direct route between ECER ander ports in Chinas easternion and to the rest of the world.

    Currently, it takes only three tor sailing days from Kuantant to Qinzhou Port in China, andr to five days to Osaka in Japan.

    The Government has providedentives and infrastructure toport the growth and

    nnectivity in the ECER with theer parts of peninsular Malaysiad the rest of the world.The East Coast ExpresswayT1) has halved travel timesween Kuala Lumpur andantan. LPT2, which connectsor to Kg Gemuruh, Kuala Nerus,been completed while LPT3

    t will extend the reach of theressway along the coastough Terengganu to Kota Baru,

    ECER: preferredinvestment destination

    Kelantan, is already in the plan.There is also the Central Spine

    Road being built now, a four-lanehighway that runs from Bentongthrough western Pahang acrossKelantan to Kota Baru.

    This will open up access to morehinterlands in the two states andtherefore more potential locationsfor resource-based investments.

    On the horizon is another game-changer, the East Coast Rail Link(ECRL), that will provide railconnectivity from the Klang Valleyto Kuantan, and up along the coastto Kuala Terengganu and KotaBaru.

    Eventually, it will be the onlystandard-gauge rail line that

    connects Malaysia to Thailandand runs all the way to Kunmingin China.

    Given ECERs wealth of naturalresources and land availability,it is cost-effective for investors,domestic or foreign, includingthose looking at expansion orrelocation, to develop theirbusinesses in the region as theywill have easy access to rawmaterials and industrial land forfuture expansion, which willultimately lead to a lower cost ofdoing business.

    Industrial parks

    Industrial parks play a key

    catalysing role for manufacturingin ECER. Cumulatively, ECERs 12industrial parks have to dateattracted RM23.2bil in investments,creating 30,000 jobs for the people.

    The Malaysia-China KuantanIndustrial Park (MCKIP) beganwith 1,400 acres (566.6ha) but inthe last year, the increasingdemand for land from Chinainvestors has resulted in approvedexpansion in the area to become

    3,000 acres (1,214ha) today.Bioeconomy-based production

    in ECER has grown rapidly suchthat it is now the second-largestinvestment cluster in Terengganu.

    This was catalysed by the KertihBiopolymer Park and plans arebeing made to double the area ofKBP in the immediate term.

    Halal products are fast becominga global economic component andECER has two industrial parksdedicated as halal clusters.

    These are the Gambang HalalPark in Pahang within the vicinityof Kuantan and its port and PasirMas Halal Park in Kelantan that islocated near the Thai border, nearto the future cross-border road and

    rail connectivity that will become apart of the New Silk Road of Asia.

    The Kuantan Integrated Bio Parkserves as a hub for investmentsin the production of palm oiland other biomass-basedmanufacturing and is the onlyindustrial park in Malaysia tailoredfor this strategic cluster.

    On the information andcommunications technology (ICT)front, the Pahang Technology Parkhas been identified as the firsthigh-technology and cyber citywithin the ECER.

    The technology park, whichincludes components such asbiotechnology and an ICT andagritech centre, will allow investors

    to take advantage of the naturalresources and raw materialsavailable in the Region.

    Meanwhile, the PekanAutomative Park (PAP) hasemerged as Aseans regional basefor global brands such asVolkswagen, Suzuki and MercedesBenz.

    With the expansion of PAPscheduled for completion in 2020,it will consist of a dedicated

    industrial zone, NationalAutomotive Testing Centre,integrated vendors park as well asa residential and commercial zone.

    Other parks include the PahangBio-aromatic Park, HerbalIntegrated Cluster DevelopmentChegar Perah, Herbal IntegratedCluster Development Pasir Raja,Tok Bali Integrated Fisheries Parkand Kuantan Fish Processing Park.

    Opportunities for investors tocome into the ECER remainsenormous as these industrial parkscontinue to improve its service andexisting infrastructure.

    At the same time, land prices arestill relatively low in ECER and, inmany cases, this is not a significantcost factor in an investmentproject.

    Price levels of ready industrialland here is about 50% to 70%lower than in the more developedregions of peninsular Malaysia.

    Property and lifestyle

    Parallel to industrialdevelopment in ECER, the lifestyle

    aspect of the economy is alsoadvancing.

    Property development ofincreasing standards, tourism andleisure centres, public and privateeducation establishments fromschools to universities are growingin number.

    Crowning such development isthe Kuala Terengganu City Centre(KTCC) set to transform the citysstandard of living into a 21stcentury place to live and work.Today, 40% of the KTCC area isalready allocated to severaldevelopment companies of hotels,a theme park, shopping mall,entertainment and retail outlets,commercial and residential

    components.

    Policies

    To further boost investments inthe ECER, the Federal and stategovernments have put in placevarious incentives and pro-business investment policies tofacilitate the growth of businesses.

    These incentives cover taxexemptions, investment allowance

    and even facilitation funds forhigh-impact projects.

    In addition, human capitaldevelopment programmes such asthe ETEP is also in place to ensurethat the right talents are availableto make investments successful.

    The ECERDC was set up by theFederal Government to act as aone-stop centre to fast-trackinvestment applications and

    approvals as well as providecounselling, advisory services,process fiscal and non-fiscalincentives as well as varioussolutions to help make the processof making investments a fast andeasy one.

    Best gateway to theAsia-Pacifc region

    Although the economic disparitybetween ECER and the moredeveloped regions in Malaysia isgradually being reduced, the costof doing business in ECER is stilladvantageous without sacrificingmuch in terms of access toinfrastructure, shipping and

    logistics and human capital.In addition, the lower cost of

    living in the ECER has ensured thatwages remain competitive and thequality of life that this region offersto working professionals makes it avery attractive place to live, workand even for recreation.

    ECERs location that faces theSouth China Sea, one of the worldsbusiest shipping routes, andproximity to China and the FarEast makes it a strategic gateway orspringboard for investors whowant to penetrate the Asia-Pacificregion, particularly Asean, Chinaand the Far East, which comes witha larger potential market of fourbillion people and a combined GDP

    of US$17 trillion (RM69.3 trillion),says Datuk Seri Jebasingam IssaceJohn, chief executive officer of theEast Coast Economic RegionDevelopment Council (ECERDC).

    He says, The ECER is rapidlytransforming into one of Malaysiasmost dynamic regions, offeringdiverse business opportunities toboth domestic and internationalinvestors. This is possible becauseof our strategic collaboration withthe International Trade andIndustry Ministry (Miti), MalaysianInvestment Development Authority(Mida) and the state governmentsof Pahang, Terengganu, Kelantanand Johor.

    Therefore, this is the right time

    to make fresh investments,expansion or relocation ofproduction and services in ECER, toincrease competitiveness and to bein the game-changing location thatis fast becoming Malaysiasinvestment destination andgateway for trade and investmentsfor Asia-Pacific.

    nFor more information, visitwww.ecerdc.com.my.

    Datuk Seri Jebasingam Issace John.

    Once Kuantan Ports expansion is completed in 2018, it will provide aquicker, more direct route to the rest of the world.

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    Bracing for the storm

    E slow global economic growthd political instability have hadimpact on Malaysias economicwth.

    However, looking at the biggerture, this developing nationses with regards to theestment scene are very much abal issue as much as they are aal fix.

    As an oil-producing nation, thesh in global crude oil pricesred with the depreciation of theggit pose new challenges inlaysias investment andnomic scene.

    The outcome of these challengess significant in Malaysias keynomic indicators last year.

    With the real gross domesticformance (GDP) estimated to be%, there is a decrease betweenfourth quarter of last year

    %) and the first quarter of thisr (4.2%), as reported by the

    partment of Statistics.Net exports last year reduced by% while the domestic demandderated at 5.9% compared with% in 2014. The moderatedmestic demand last yearained the inflation rate belowlong-run average of 3.0%.rivate consumption had also

    akened with a declinednomy liquidity from RM269.9bilhe end of 2014 to RM205.1bil atend of last year.

    eak in the clouds

    n the midst of a global economic

    certainty, the Malaysianestment Development Authorityda) has projected a GDP growth

    4% to 4.5% this year.The Malaysian Institute of

    nomic Research (Mier) expects2016 GDP to be steered largely

    private sector expenditures withhter liquidity condition,naged by Bank Negaralaysia.nvestors can rest assured thatpite the challenges Malaysia ising, the nations economymonstrates resilience pairedh strong economicdamentals that continue to

    ract foreign direct investmentI).

    The first quarter of this yearorded RM37.3bil of approveds in the services, manufacturing

    d primary sectors.urthermore, there is anrease in FDI in the first quarterhis year compared with theresponding period last year; FDIs year is valued at RM12.8bil.However, domestic demand willntinue to drive Malaysiasnomic growth throughout ther this can be seen by the factt total approved domesticestment for the first quarter ofs year has already been valuedRM24.5bil 65.7% of the totalestments for the first quarter.

    A great deal of emphasis should

    put in further attractingmestic investors to takevantage of the current localestment scene.

    Overall, despite the globalnomic situation, Malaysia is stillng well in terms of growth.

    During his speech at the Investlaysia 2016 conference, Primenister Datuk Seri Najib Tunak said that despite thenomic challenges faced by

    Despite the slump in the global economy, Malaysias economy is expected to continue its growth, aided by foreign and domestic direct investments.

    The total amount of investment in 2015 for the services, manufacturing andprimary sectors.

    0 invest malaysiaTHE STAR,

    TUESDAY 28 JUNE 2016

    Malaysia in the last year, thecountry continues to show positive

    growth.Malaysias export growth in

    February this year rebounded by6.7% to RM56.72bil after posting anegative growth of 2.8% year-on-year in January. Imports increasedby 1.6% to RM49.4bil fromRM48.2bil last year, he said.

    Between 2009 and last year,Malaysias Gross National Incomeincreased by almost 50% with 1.8million jobs created in total.Foreign direct investment has beengrowing at more than 22% perannum, he added.

    Best foot forward

    Even though Malaysia is

    expected to experience a moremoderate growth rate in thesecond half of the year, the state ofthe economic climate is stillexpected to be uncertain on both

    the global and domestic fronts untilnext year.

    However, Malaysia is equippedto attract investors based on itsthriving infrastructure andpolicies.

    The Malaysian economy willstill benefit in attractinginvestment from its diverse growthsources, economic flexibility, lowunemployment rate, effectivelymanaged external debt, a well-capitalised banking system anddeveloped capital markets, whichwill provide continued access tofinancing, says Datuk AzmanMahmud, chief executive officer ofMida.

    The future of investments inMalaysia does not solely rest on itseconomic growth but the core

    strengths of the country that willreap long-term benefits forinvestors and the rakyat.

    The start of this year alsomarked the beginning of the 11th

    Malaysia Plan (11MP) and asMalaysia approaches the last leg in

    achieving a high-income nationstatus by 2020, the government hasidentified specific subsectors todrive both the manufacturing andservices sectors.

    Three catalytic subsectors(chemicals, electric and electronics,machinery and engineeringindustries) and two subsectors ofhigh-potential growth (aerospaceand medical devices) have beenselected as key drivers in the

    manufacturing sector.In the services sector, Islamic

    finance; information,communication and technology;oil and gas services; privatehealthcare; private highereducation; ecotourism; the halalindustry; and professionalservices are some sub-sectorsthat are poised to generate high-income jobs and enhance thenations economy.

    ACCORDING to theMalaysianInvestment Performance Report2015published by theMalaysian InvestmentDevelopment Authority, therewas positive account ofinvestment gained over thepast year despite the impact ofglobal economic uncertainty.

    Malaysias service sectorcontinues to attract the mostinvestment with a total of4,150 approved projects withinvestment amounting toRM108.2bil (57.9% of totalinvestments last year).

    Out of this value, domesticdirect investment (DDI)

    totalled RM95.8bil whileforeign direct investment (FDI)amounted to RM12.4bil worthof investment.

    Malaysia also continued toattract new projects in themanufacturing sector last yearthat amounted to RM60.2bilfrom 384 projects, which is80.6% of the total investmentapproved.

    It was recorded thatRM11.6bil (19.3%) worth ofinvestment was from foreignsources while RM48.6bil

    (80.7%) was garnered locally.Some of the leading foreign

    investments in manufacturinglast year came from the UnitedStates, Japan, Hong Kong,China and Singapore.

    The US charted as themanufacturing sectors biggestforeign investor withinvestments totalling RM4.2bilin 19 projects, followed byJapan with RM4bil in 16projects; Hong Kong withRM3.2bil in nine projects;China with RM1.9bil in 17projects; and Singapore withRM1.4bil in 87 projects.

    In total, these nations

    contributed 66.6% of totalforeign investments approvedin last year.

    Investment in the primarysector (which includes mining,plantation and commodities,and agriculture) amounted toRM3.8bil of approvedinvestments last year.

    Foreign and domesticinvestments in this sectorwere valued at RM1.8bil(47.4% of the total) andRM2bil (52.6% of the total)respectively.

    Finishing strong

    > SEE NEXT PAGE

    RM3.8bil2.1%

    40%

    57.9%

    Primary sector

    RM74.7bilManufacturing sector RM108.2bil

    Services sector

    Total investment

    in 2015

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    Initiatives have beentaken to establishnew innovationsin Malaysia thatwill attract morepotential investorsto settle in Malaysia,especially asthe country is agateway to theAsean Economic

    Community.

    Novel opportunities

    THE STAR,TUESDAY 28 JUNE 2016

    invest malaysia 11

    > FROM PREVIOUS PAGE

    Looking at neighbouringcountries, the South-East Asianregion is also brimming with

    investment and trade opportunitiesvia Asean and the recently formedAsean Economic Community (AEC).

    With a commitment to build abusiness-conducive investmentecosystem, Asean created theAsean Comprehensive InvestmentAgreement, which targets theliberalisation and protection ofcross-border investment operationsand best practices to handleforeign investors and investments.

    In addition, Malaysia, Indonesia,the Philippines, Vietnam, Singaporeand Thailand have formed theAsean Exchanges a live stockexchange monitoring platform topromote Asean capital markets andboost investment opportunities in

    the region.

    Industry 4.0 anupgrade

    With the intense development inthe integration of automation andinformation and communicationstechnology, the dawn of Industry4.0 has begun.

    Industry 4.0, also known as thefourth industrial revolution, is the

    implementation of automationpaired with data exchange inmanufacturing technology such ascyber-physical systems, Internet ofthings and cloud computing.

    Industry 4.0 has the potential to

    open up more investment andtrade opportunities for newerindustries in Malaysia by boostingFDI and creating more jobopportunities, especially forprofessionals in niche fields.

    According to General ElectricGlobal Innovation Barometer 2016survey, 93% of Malaysian businessexecutives are aware of recentinnovations and believe acompanys innovative value is not

    only determined by the launch ofnovel products and services but increating a new market that did notpreviously exist.

    However, a lot needs to be doneto make these developments more

    attractive to smaller businesses.Although big companies arevery keen to implement Industry4.0 in their business operations,smaller business owners believethat making sufficient profit withtheir existing business model isgood enough and they do not needto change their ways of doingbusiness, says Hasan Azhari Idris,chief executive officer of InvestSelangor.

    Perceptions can be changedthrough education and exposure asmore media channels these daysare talking about the advantages ofembracing Industry 4.0, he adds.

    With countries such as Germany,Japan, the United States, China andIndia embracing Industry 4.0 as akey feature in their economies,staying ahead of the competition iscrucial to stand out to investors.

    Malaysia has been paving theway for Industry 4.0 since 2010.The growth of information andcommunication services and theparadigm shift from infrastructureand access to applications wereproducts of Malaysias EconomicTransformation Programme (ETP).

    Several ICT initiatives under the10th Malaysia Plan such as theStrategic ICT Roadmap and DigitalMalaysia were also drafted, and anemphasis on smart manufacturing

    was mentioned in the 11MP.Up till now, Malaysia has165 projects implemented tomanufacture robotics andautomation equipment fordiverse industries.

    A big portion of theseinvestments are in specialisedmachinery, equipment for thesemiconductor industry andmaterial handling while the restare in food and beverages

    processing and packaging. Thetotal investment made in theseindustries are valued at RM4.9bil,says Azman.

    The important factor in realising

    Industry 4.0 in Malaysia is toacquire people with specific talentsto handle the integration ofautomation and ICT in variousapplications.

    The key thing is to find peoplewho can handle the challenges thatindustries will face inimplementing Industry 4.0. Hence,the Selangor Human ResourceDevelopment Centre has beenworking to recruit highly trainedindividuals as we embraceIndustry 4.0, says Hasan

    Even though Malaysia iscurrently facing one of its mostchallenging economic situations,its resilience in handling suchchallenges will be a testament to

    the countrys maturity and growth.There is much to do and there ismuch to learn before Malaysiaachieves Vision 2020.

    As Malaysias economy continuesto be tested, it is important toleverage on domestic and foreignpolicies, and embrace changes inthe global trade scene to createnew markets and more investmentopportunities, which in return, willattract viable, long-term investors.

    Embracing innovation

    9.4%Average growth of real

    private investments

    bil

    RM

    Average private investments

    in current prices

    Average growth of real

    public investments

    Average public investments

    in current prices

    2.7% 131 bilRM

    Investment

    Consumption

    Average growth of realprivate consumption

    6.4%Average growth of real

    public consumption

    3.7%

    Investment and consumption projection for 2016 to 2020 under the 11thMalaysia Plan (11MP).

    MALAYSIA is constantly looking fordiverse groups of foreign anddomestic investors who are eagerto open new trade opportunitiesand create job opportunities forMalaysians.

    As the national investmentpromotion agency, the MalaysianInvestment Development Authority(Mida) has taken the initiative tohelp establish new innovations inMalaysia that will attract morepotential investors to settle here,especially as the country is agateway to the Asean EconomicCommunity.

    Mida provides assistance forcompanies that aim to invest in themanufacturing and servicessectors.

    Among the services provided byMida are facilitating projectimplementations, providinginformation regarding investment

    opportunities and aidingcompanies that are lookingfor joint venture partners.

    Here are some companies thathave benefited from Midasassistance in establishing theirbusiness in Malaysia and will bringinteresting innovations to existingindustries thriving in this region.

    Oncogen PharmaSdn Bhd

    Oncogen Pharma, a subsidiary ofScitech Ltd, Dubai, is engaged inthe research and development(R&D) of active pharmaceuticalingredients (APIs) as well asformulation and manufacturing of

    bulk drugs for applications in thepharmaceutical industry.

    The companys R&D facility inShah Alam, Selangor, is the firstAPI Oncology Research Centre inAsean while a new manufacturingfacility in Bandar Enstek, NegriSembilan, will be formulating and

    producing high-quality oncologyproducts that will be exported toforeign markets such as the UnitedStates and Europe.

    Oncogen Pharma is leveragingon Malaysias talented pool ofyoung and bright scientists andwill actively engage with local

    researchers and institutions ofhigher learning in machinevision technology.

    Honeywell InternationalSdn Bhd

    Honeywell featured onFortunemagazines Fortune 100 list provides commercial andconsumer products, engineeringservices and aerospace systems fora wide variety of customers. Thecompany is the first globalcompany to join MalaysiasPrincipal Hub initiative.

    The growth of Honeywell inMalaysia will further contribute

    positively to the countrys economy,especially in the development oflocal talent who are crucial toMalaysias social and economicgrowth.

    Tosoh AdvancedMaterials Sdn Bhd

    Tosoh Advanced Materials is aglobal Japanese chemical companythat will be manufacturingsynthetic zeolite or high-silicazeolite (HSZ) in Terengganu.

    The production of HSZ inMalaysia will contribute toapplications in vehicle catalyticconverters in automobile exhaustpipes to absorb pollutants and

    harmful gases.Being the first of its kind in

    Malaysia, the project has thepotential to propel the country tobecome a world-class hub for theproduction of HSZ and completethe chemical and petrochemicalecosystem in the country.

    universities for talent recruitmentand internship programmes.

    ViTrox TechnologiesSdn Bhd

    ViTrox Technologies is ahome-grown company that has

    championed the growth of 3Dintelligent vision inspectionequipment incorporating elementsof machine-to-machine (M2M)technology.

    This project will furthercomplement Malaysiassemiconductor ecosystem,primarily for the inspectionof complex, minute and 3Dsemiconductor packages.

    In 2014, ViTrox Technologieslaunched its Centre of Excellence(COE) for Machine Visiontechnology. The COE functionsas a R&D/incubator centre and a

    training centre.The R&D/incubator centre

    provides an avenue for small andmedium enterprises to gain accessto the adoption of visiontechnology while the trainingcentre provides training fortechnopreneurs, professionals,

    Investors are looking to establish innovative products and services in Malaysiaas opportunities to create new markets in the region.

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    2 invest malaysiaTHE STAR,

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    Fruits ofinvestment

    By THERESA BELLE

    MALAYSIA is recently placed fifth on theGlobal Infrastructure Investment Index byAcardis, a global design and consultancyfirm. This ranking shows that thecountry is highly attractive in terms ofinfrastructure investment, which is in linewith the Governments efforts towardsachieving Vision 2020.

    Infrastructure upgrades such as theKlang Valley mass rapid transit and

    Pan-Borneo Highway, both of which areset to be completed by 2020, areanticipated to support and enhanceeconomic growth.

    This prime investment climate hasalready breathed life into severalmulti-million-ringgit projects that willboost national productivity and revenue.

    Here are a few manufacturing projectsthat are underway, accordingto latest Malaysian InvestmentDevelopment Authority (Mida) updates.

    UMW Aerospace plantLocation: Serendah, Selangor

    In line with Malaysias plan forstrengthening the aerospace industryin the country, UMW Aerospace SdnBhd signed a 25-year agreement withthe option for a five-year extensionwith Rolls-Royce Plc last August tomanufacture and assemble fan casesfor Rolls-Royce Trent 1000 and Trent7000 aero engines.

    This deal positions UMW Aerospaceas the first Malaysian company to beselected as a Rolls-Royce Tier 1

    supplier, and UMW Holdings Bhdannounced in May that it hadallocated RM750mil for its aerospaceunits capital expenditure over thecourse of the next two and a halfyears.

    The manufacturing plant will bebuilt on a 30-acre (12ha) site and willfeature an adjacent pre-productionand technology department to exploreand develop manufacturing processesand automation technologies.

    On top of that, the deal will includea manufacturing know-how andtechnology-sharing programmebetween Rolls-Royces engineeringteam from the United Kingdom andthe local team.

    This project will anchor UMWs

    proposed Aerospace Hard MetalManufacturing Park in Serendah, andthe facility is expected to meet its firstpurhase order next October. It willdeliver Trent 1000 fan cases, whichpower aero engines in Boeing 787Dreamliner aircrafts, to the Rolls-Royce assembly facility in Singapore.

    Edra solar power plantLocation: Kuala Ketil, Kedah

    Solar energy is a form ofrenewable energy that can befeasibly harnessed in Malaysia,which is why Edra PowerHoldings Sdn Bhd has faithin the potential of its upcomingRM400mil solar power plant inKedah.

    The largest investment inKedah in several years willtransform 200 acres (80.9ha)of agricultural land into an

    industrial site, with the vast flatland being highly suitable forconstruction of a great solarplant.

    When it officially beginsoperation, this plant could wellboost local industrialisationwhile heeding the call for morerenewable energy sources inthe country.

    Edra reports say the plant willsupport the industrial park innearby Kulim and could be thepioneering 50MWAC solar panelfarm in the country, setting anexample for others to follow.

    This makes it an importanteffort in minimising the nationscarbon emissions, which fulfils

    the governments mix-fuel policyby encouraging the use of coal,gas and hydro energy sources.

    Edra was recently acquired bythe China General Nuclear PowerCorp for RM9.83bil the largestsingle foreign investment inMalaysia to date.

    Seacera ceramic factoryLocation: Kamunting, Perak

    Ceramic tile maker andbuilding materials supplierSeacera Group Bhd is pumping inRM170mil into building its newfactory in Perak, which it reportsshould double the companysproduction capacity to 12,000sq mof tiles daily.

    Seacera previously set asideRM50mil to relocate its tilemanufacturing plant fromSelayang.

    In collaboration with SME Bankand Unit Peneraju AgendaBumiputera (Teraju), thecompany secured a loan andgrant to facilitate this expansion.

    The new plant will beconstructed on a 32.9-acre(13.3ha) site in KamuntingIndustrial Estate and will be builtin three phases phase one isexpected to be completed thisSeptember, phase two in June2018 and the final phase in June2020.

    Upon completion of phasethree, the production capacity ofthe factory is anticipated toincrease further to 24,000sq mdaily.

    This location in the north waschosen for ease of logisticactivities and obtaining rawmaterials at a lower rate than inthe Klang Valley. The new plant isset to create up to 150 jobs andgenerate a targeted revenue inexcess of RM200mil per annum.

    Boston Scientificmedical device plantLocation: Batu Kawan, Penang

    Boston Scientific, a globaldeveloper, manufacturer andmarketer of medical devices, is in themidst of setting up a manufacturingbase in Batu Kawan Industrial Parkinvolving investments totallinghundreds of millions of ringgit.

    The company is renowned formanufacturing products andtechnologies used in diagnosing andmanaging various health conditions.

    Construction began in April and

    the company is looking to beginequipping the space in the secondquarter of next year.

    The entire project is anticipated tobe completed in the fourth quarter ofnext year.

    Upon completion, the facility willbe able to accommodate at least 10years of growth in terms of newproducts, additional volume andenhanced capabilities.

    This may include expansion inresearch and development as well asdistribution.

    The plant is anticipated to drive upemployment opportunities in Penang the company is expecting morethan 400 employees at the site withinfour years of operation.

    This number has the potential togrow alongside new innovations atthe facility.

    Boston Scientific is confident of theoutlook of the medical device marketin Asia-Pacific, which is projected togrow in line with evolving healthcaresystems and medical needs.