KUALA LUMPUR: AmBank Group has provided a RM512 million financing to Matrix Concepts Holdings Bhd for the development of 559.36 hectares of prime housing landbank in Malaysia Vision Valley 2.0 located between Selangor and Negri Sembilan.
The development, which is a joint venture between Matrix Concepts' subsidiary N9 Matrix Development Sdn Bhd and the Negri Sembilan state-owned NS Corporation, is estimated to deliver a gross development value (GDV) of RM7 billion.
AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir said the partnership marked a significant milestone for the company in its sustainability journey.
"With the growing global focus on environmental, social and governance (ESG), it is important for organisations to embark on projects such as the development of affordable housing, which improves the socio-economic status of the nation.
"We are aware of our responsibility as corporate citizens to contribute towards holistic growth and sustainable development of the community. AmBank recognises the need for accessible financing options to empower businesses in their efforts towards sustainable development," he said.
AmBank Group business banking managing director Christopher Yap said the development of the corridor served as a testament to Malaysia's potential for sustainable development.
"Through this facility, we see the implementation of sustainable finance as a very positive sign and will continue to support clients investing in projects that will transform our communities and pave the way towards a more sustainable and prosperous nation," added Yap.
Malaysia Vision Valley 2.0 will be developed within the next 10 years and is expected to be a world class metropolis that is competitive and inclusive with strong emphasis on using clean technology.
Matrix Concepts founder and group executive deputy chairman Datuk Seri Lee Tian Hock said the project is expected to contribute between 10 per cent to 30 per cent from financial year 2026 (FY26), FY27 and FY28.
"In five to six years, we expect to see a contribution of between 60 per cent and 70 per cent to the group's earnings," he added.
Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said the undertaking will serve as a pivotal growth catalyst for the company.
"We extend our heartfelt appreciation to Ambank Group for their unwavering support and shared commitment to our ongoing mission of enhancing our ESG profile, which has been a central component of the group's strategy in recent years," he added.