News

Rahim & Co to explore potential industrial investments in Perak

Firm partners PKNP, InvestPerak and Majuperak to find opportunities to drive investments into the state

by S BIRRUNTHA / graphic by TMR

RAHIM & Co International Sdn Bhd has partnered Kumpulan Perbadanan Kemajuan Negeri Perak (PKNP), Perak Investment Management Centre (InvestPerak) and Majuperak Holdings Bhd to identify and explore potential investments in Perak, with emphasis on the industrial sector.

Majuperak, PKNP and InvestPerak announced they will explore opportunities together to drive investments into the state.

The three organisations have engaged Rahim & Co to identify and negotiate with potential partners.

Commenting on the industrial property market, Rahim & Co real estate agency CEO Siva Shanker said the property market has been going through turbulent times in the last few years.

He emphasised that the last two years have been exceptionally bad due to the devastating effects of Covid-19.

“However, through all this, the industrial market has remained steady and has, in fact, thrived.

“The increase in online shopping and the huge demand it has created bodes well for the industrial sector of the property market,” he said in a joint statement last Friday.

According to PKNP CEO Datuk Redza Rafiq Abdul Razak, Perak is open for business and the organisation has put in place plans to encourage private sector participation in the state.

“We strongly believe in Perak’s potential to attract investors into the state to participate in our next phase of growth.

“To this end, we are confident of Majuperak’s strategy of growth to take advantage of the stability of the industrial market and look forward to receiving offers from potential industrialists and joint-venture (JV) partners.”

With a potential of over 3,000 acres (1,214ha) of landbank, Majuperak is envisaging steady growth in the productive capacity of the economy.

To date, Majuperak has delivered over 2,000 units of affordable residential development within the state since 2014.

As part of its long-term strategy, Majuperak has identified several strategic parcels of land which it believes have the right potential to be developed into high-end, modern industrial parks.

For a start, it has identified three parcels of industrial land in Kanthan, Ipoh, measuring 470 acres, which it intends to develop into part of an industrial park called Silver Valley Technology Park 2 (SVTP 2).

SVTP 2 is deemed as a high impact project forming part of the Northern Corridor Economic Region (NCER) under the Strategic Development Plan 2021-2025.

It aims to become the catalyst for the growth of high-value manufacturing activities and the digital economy.

The aspiration is for the whole of the NCER in general and SVTP 2 in particular to generate new job opportunities, boost domestic talent inflow and contribute towards making Perak a high-income state.

Commenting on this, Majuperak CEO Nizran Noordin said the group had previously been predominantly involved in residential housing development.

He added that the group now intends to expand its development strategy by taking advantage of the current strong growth of the industrial market.

“We believe this strategy represents a solid economic growth and development potential and we want to take advantage of this opportunity.”

He also noted that Rahim & Co has been appointed as the consultant, exclusive marketing agent and transaction manager to roll out requests for proposal exercise, as well as identify and negotiate potential partners to develop SVTP 2 together.

Meanwhile, InvestPerak CEO Izran Abdullah expressed that the organisation stands ready to assist PKNP and Majuperak in their objective to grow Perak as a foremost industrial state in Malaysia.

He said the organisation has various strategies in place to assist PKNP in the next phase of growth.

“We are prepared to make the entry of these industrialists and JV partners into Perak as smooth and as painless as possible.

“We encourage potential partners to take advantage of the opportunities being created and explore how they can be part of the next growth phase of the state of Perak,” he added.

Zukri

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