17 August, SHAH ALAM – NCT Group of Companies (NCT Group) and Future Inno Park Sdn Bhd (Future Inno Park) has signed a Memorandum of Understanding (MoU) pertaining to NCT Group’s Kuala Langat Industrial Hub development project. The MoU signing took place at Bilik Gerakan MTES, Bangunan Sultan Salahuddin Abdul Aziz Shah (SSAAS) Shah Alam with the presence of NCT Group Founder, Dato’ Sri Yap Ngan Choy and Dato’ Jeffrey Ng Chin Heng, Director of Future Inno Park and an active Chinese business leader. The event was witnessed by YB Dato’ Teng Chang Khim, ADUN Bandar Baru Klang and Selangor State Senior Executive Councillor (EXCO) for Investment, Industry, Commerce and SME as well as Dato’ Joe Yap Fook Choy, Co-Founder of NCT Group.

The MoU signing is in conjunction with NCT Group’s Kuala Langat Industrial Hub development project in Kuala Langat, Selangor. The project is deemed to be the industrial hub of choice for the electrical and electronic (E&E) industry. Commenting on the development, Dato’ Sri Yap Ngan Choy says “The Kuala Langat Industrial Hub is poised to take business capabilities to new heights. We are anticipating interest from a lot of big industry players and investors. The MoU today will pave the way to introduce the project to foreign investors in the international market.”

An active leader in the Chinese business community including committee member of  The Federation of Chinese Associations Malaysia (Hua Zong) and Chairman of Public Committee of the Malaysia-China Chamber of Commerce (MCCC), Dato’ Jeffrey Ng Chin Heng is also the chairman of a few public listed companies such as LBI Capital Berhad and Anakku. He has built a vast network of business in China for the last 20 years including Suzhou, Nanjing, Guangdong and Fujian, and is closely linked to some of The Belt and Road Initiative (BRI) unveiled by President Xi Jinping since 2013.

Dato’ Jeffrey Ng Chin Heng will be working in bringing in international buyers to invest in the project. “Many foreign E&E firms are looking to relocate their businesses to Malaysia to diversify production. The Ministry of International Trade and Industry (MITI) reported in June 2020 that it had a pipeline of investment projects worth about US$13 billion. The Kuala Langat Industrial Hub is the perfect investment location to feed the demand of these investors. We are excited to collaborate with NCT Group in this matter,” he shared.

Endorsing the Kuala Langat Industrial Hub, YB Dato’ Teng Chang Khim commented, “The Selangor government welcomes a development such as this as it contributes positively to the economy and earnings of the state. Selangor has long been known as the main investment location in Malaysia and is the perfect gateway to the ASEAN market. We are ready to supply a strong E&E base, good supporting local engineering supporting cluster and talent to fulfil all investment needs.”

To note, Malaysia has always been dedicated in advocating foreign E&E investments by shaping the country as an ideally competent investment climate. On the heels of liberalisation of services sub-sectors since 2009, the government introduces a vast range of incentives and initiatives such as special investment capital allowances and a variety of tax deductions; comprehensive facilities and advanced technologies that entice the foreign investors.

The Kuala Langat Industrial Hub is located at the border shares between the Kuala Langat and Sepang district. The strategic location is approximately 15 kilometres away from KLIA 1 and KLIA 2. The signing of the Memorandum of Understanding between NCT Group and Future Inno Park is expected to propel Selangor further as a valuable investment destination.

Source from iProperty 

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PETALING JAYA (Aug 17): Property developer NCT Group of Companies (NCT Group) has partnered with Future Inno Park Sdn Bhd to promote Kuala Langat Industrial Hub to become the “industrial hub of choice” for the electrical and electronic (E&E) industry.

Located at the border between the Kuala Langat and Sepang districts in Selangor, the industrial hub is expected to generate vast interest from industry players and investors from local and overseas, said NCT group founder Datuk Sri Yap Ngan Choy in a press statement.

The company has inked a memorandum of understanding (MOU) with Future Inno Park director Datuk Jeffrey Ng Chin Heng today, the ceremony was witnessed by Datuk Teng Chang Khim, Bandar Baru Klang assemblyman and Selangor State Senior Executive Councillor (EXCO) for Investment, Industry, Commerce and SME.

In a press statement today, Yap said the MOU would pave the way to introduce the project to foreign investors in the international market, leveraging on Ng’s extensive business network in China, including Suzhou, Nanjing, Guangdong and Fujian.

Ng noted that there are many foreign E&E firms looking to relocate their businesses to Malaysia to diversify their production.

“The Ministry of International Trade and Industry (MITI) reported in June 2020 that it had a pipeline of investment projects worth about US$13 billion (about RM54.51billion). The Kuala Langat Industrial Hub is the perfect investment location to feed the demand of these investors. We are excited to collaborate with NCT Group in this matter,” he added.

Meanwhile, Teng said the Selangor government welcomed developments that would contribute positively to the economy and earnings of the state. 

“Selangor has long been known as the main investment location in Malaysia and is the perfect gateway to the ASEAN market. We are ready to supply a strong E&E base, good local engineering supporting cluster and talent to fulfil all investment needs,” he added.

Source from EdgeProp

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SHAH ALAM: NCT Group of Companies (NCT Group) has signed a Memorandum of Understanding (MoU) with Future Inno Park Sdn Bhd (Future Inno Park) pertaining to the former Kuala Langat Industrial Hub development project.

The project with RM3 billion of Gross Development Value (GDV) in Kuala Langat, Selangor is deemed to be the industrial hub of choice for the electrical and electronic (E&E) industry.

NCT Group Founder, Dato’ Sri Yap Ngan Choy said that the project is poised to take business capabilities to new heights.

“We are anticipating interest from a lot of big industry players and investors.

“The MoU today will pave the way to introduce the project to foreign investors in the international market,” he said.

The MoU signing took place at Bilik Gerakan MTES, Bangunan Sultan Salahuddin Abdul Aziz Shah here with the presence of the Chairman of Standing Committee for Investment, Industry and Commerce, YB Dato’ Teng Chang Khim and Director of Future Inno Park, Dato’ Jeffrey Ng Chin Heng.

Source from Property Insight

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SHAH ALAM, Aug 17 — The construction of the Kuala Langat Industrial Hub, which is expected to be completed in the next four years, is aimed at attracting investments from local and international electrical and electronics players to Selangor.

State Investment, Industry and Trade, Small and Medium Industries Committee chairman Datuk Teng Chang Khim said the good infrastructure around the project location, which covered an area of almost 200 hectares (493 acres), especially its close proximity to the Kuala Lumpur International Airport would be an added value in attracting more investors.

He said the ongoing trade war between the US and China is also expected to open up opportunities for the country, especially Selangor, as a preferred destination to boost the sector.

“(Following the trade war) many electronic companies from the US, Taiwan and other Asean countries will move their operations from China.

“Malaysia is among the destinations targeted by investors as our infrastructure is better than other countries. That is why we strongly encourage the private sector to collaborate and develop this industrial hub,” he told reporters here today.

Earlier, Teng witnessed the memorandum of understanding (MoU) signing ceremony between NCT Group of Companies, the owner and developer of the hub, and Future Inno Park Sdn Bhd.

The MoU, which was signed by NCT Group founder Datuk Seri Yap Ngan Choy and Future Ino Park director Jeffrey Ng Chin Heng, aimed to promote the project among foreign investors.

In another development, Teng is also proud that Selangor maintained its position as the largest contributor to the country’s gross domestic product (GDP) of 24.2 per cent last year from 23.7 per cent in 2018.

He said if the rate increases, Selangor would be contributing one-fourth of the country’s GDP in the near-term.

Therefore, he said Selangor needed to maintain the position by intensifying efforts to make the state as the country’s main investment destination either in the manufacturing or services sectors.

“Currently, 60 per cent of Selangor’s GDP comes from the services sector while the remaining 30 per cent from manufacturing. We need to strengthen the manufacturing sector to ensure that we have the support of the services sector,” he said.

He said the Selangor Industrial Master Plan focuses on five main sectors, namely electrical and electronics; machinery and equipment; transport equipment, including aerospace; food and beverage; and life sciences, including medicine and pharmaceuticals.

Source from Selangor Journal

To view the original article, please click: https://selangorjournal.my/2020/08/kuala-langat-industrial-hub-aims-to-attract-electrical-and-electronics-investors/