KUALA LUMPUR: Matrix Concepts Holdings Sdn Bhd is acquiring 65.6ha of industrial land in Seremban for RM71.5 million for project that would generate gross development value at least RM170 million from the financial year ending December 31 2015 onwards.
The land, which is near to the 400-ha Sendayan TechValley (STV) industrial park, represents an additional full-facility industrial park for the group and would enlarge the group's industrial land bank to 1,164 acres in total.
The acquisition is estimated to be completed by end-2014 and proposed development is expected to commence in 2015.
Matrix’s wholly-owned subsidiary, BSS Development Sdn Bhd inked a sales and purchase agreement with Palipadu Sdn Bhd to buy the land for RM71.5 million, or about RM10 per square foot.
The acquisition will be equally funded by internally generated funds and bank borrowings.
According to Matrix chairman Datuk Mohamad Haslah Mohamad Amin, the existing two phases of STV have been very well-received with more than 304ha sold to date, mainly to leading high-technology manufacturing companies across the globe.
"We are proud that STV has attracted more than RM3.8 billion in foreign direct investment since 2013," he said.
The new land, dubbed Sendaya TechPark (STP) is a timely addition to its industrial land bank to attract more international partners and to sustain the Group’s continuous development in Seremban.
STV has attracted international investors from all over the world, including Japan (Hino Motors, Akashi-Kikai, Nippon Kayaku), the United Kingdom (Weir Group), France (Messier- Buggatti-Dowty), Germany (Schmidt + Clemens) and China (Hubei Dijian Construction). Currently, four of these facilities have commenced operations.