Property developer to launch industrial park in Banting next year
24 Sep 2024
IOI Properties Group Bhd expects to launch the IOI Industrial Park, Banting, Selangor, with a gross development value of more than Rm1.5bil in the second quarter of next year, says group chief operating officer Teh Chin Guan.
The industrial park, he said, would be sited on 130.31ha.
In its first 28.33ha phase, it will have 53 clusters, semi-detached and bungalow factory units plus land parcels for sale.
Teh said the company was focusing on infrastructure like road and drainage systems, as it aimed to show investors the basic setup of an industrial park by next year.
He told the media this after launching the IOI Industrial Park series in Banting in Selangor and Iskandar Malaysia in Johor.
It coincided with the expansion of isynergy Kulai from 205.17ha to 445.15 ha.
Teh said the company was looking at a potential revenue contribution of at least 20% per annum from its industrial portfolio over the next few years.
“Our annual revenue is around Rm2bil.
“So, we are expecting Rm400mil annually (from the industrial portfolio) for the next few years.
“Our Melaka industrial park will be launched in Q4 2025.
“It is still in the pipeline, as we have some 323.75ha and are carving out an initial 80.94ha,” he elaborated.
Teh said the Melaka industrial park would be slightly different compared to the ones in Selangor and Johor because it was strategically located between the latter two states.
“For some businesses that may need to service Selangor and Johor, the Melaka industrial park will serve as an excellent warehousing, logistics and food and beverage hub.
“In a day, goods can be sent to the north and south within two hours,” he highlighted.
The group hopes to have two more industrial parks in the next three to five years – in Bahau, Negri Sembilan, and Segamat, Johor.
“Leveraging on IOI Properties’ sizeable and strategic landbank, the IOI Industrial Park series is aligned with the target of achieving at least 10% growth year-on-year in approved investments.
“This comes amid wider international interest driven by Malaysia’s strategic location, skilled labour and mature infrastructure,” said Teh during the launch.
Malaysian Investment Development Authority (Mida) domestic investment division director Sukri Abu Bakar, Invest Selangor investment development division director Nik Izuddin Nik Mohd Yusof and Invest Johor manager (pre-investment and promotion) James Tan Wei Jie were also present.
IOI Properties posted a 48% rise in net profit to Rm2.06bil in FY2024 from Rm1.37bil a year ago.
Revenue rose 13.4% to Rm2.94bil from Rm2.59bil.
Source: The Star
