The company aims to support local and multinational businesses in increasing their productivity with the new centre in Menara Summit
BY NG MIN SHEN / Pic By MUHD AMIN NAHARUL
Regus Management Malaysia Sdn Bhd (Regus Malaysia), a flexible working solutions provider, has opened its latest co-working space in Subang Jaya, Selangor, in line with its continued expansion bid nationwide, as demand for fluid working options rises.
Country head for Regus Malaysia, Indonesia and Brunei Vijayakumar Tangarasan said Subang Jaya is a fast-growing hub for business and light industry in the Klang Valley with many major international companies setting up their headquarters (HQ) in the area.
“With the opening of our new centre in Menara Summit, our aim is to support local and multinational businesses in increasing their productivity, as well as help them grow through our flexible working solutions.
“This new centre marks our further investment in Selangor as a hub for local and international businesses,” he said at a media briefing in Kuala Lumpur yesterday.
The group’s global network also allows businesses to explore expansion outside the region, as signing up for membership under Regus Malaysia provides access to the company’s 3,000 locations in over 100 countries worldwide.
Within Malaysia, the group already has 32 workspaces in locations across Kuala Lumpur, Selangor, Penang, Johor, Kota Kinabalu and Labuan.
“We see an average take-up rate of 73% across all our workspaces, and we already have an occupancy rate of around 10% for the new Menara Summit workspace as there is demand in the area,” Vijayakumar said, adding that Menara Summit is selected for its connectivity to public transport.
The Menara Summit workspace is also established as a partnership deal with AmFIRST Real Estate Investment Trust (REIT), which manages Menara Summit along with The Summit USJ and The Summit Hotel.
Under the partnership deal, the landlord contributes to the capital expenditure (capex) for the refurbishment of the workspace and also takes a share of profit based on their contribution.
The capex for the Menara Summit workspace and AmFIRST REIT’s share of profit were not revealed.
Regus Malaysia, which has been present in Malaysia for 13 years, has expanded its network from six centres initially to 32 presently, including the Menara Summit space.
“Our plan under IWG plc, our parent firm, is to open an average of eight new spaces per year,” Vijayakumar said, adding that the group already has three more spaces in the pipeline for Malaysia this year — one in the Klang Valley, one in Kota Kinabalu, Sabah, and one more in Johor.
Co-working spaces are becoming increasingly popular in Malaysia, along with the rise of digital technology, which enables people to work productively anywhere and at any time.
Apart from Regus Malaysia, notable players here include Common Ground, WORQ and Colony.
According to the latest global report from IWG, 92% of Malaysian professionals said flexible workspaces enable employees to be more productive while on the go, while 88% said remote working locations help reduce commuting time for employees.
“Companies like co-working or shared working spaces as they can save on capex for an office, and commuting time for employees who are not based near HQ.
“Large companies also use co-working spaces when they bring in project teams that need an office space for temporary periods,” Vijayakumar explained.
Regus Malaysia also offers virtual office capabilities, which include a professional address as well as mail handling and telephone answering services.
Previously, about 60% of Regus Malaysia’s clients were multinational companies, particularly during the heyday of the oil and gas industry.
“Now, we’re seeing the opposite; about 60% of our clients are local small and medium businesses and start- ups,” Vijayakumar shared.