Matrix Concepts buys RM71.5mil land, aims RM170mil in GDV

KUALA LUMPUR: Matrix Concepts has bought a 164-acre land in Seremban for RM71.5mil, in aims to extend its existing 1,000-acre Sendayan TechValley (STV) industrial park, also in Seremban.

With the new acquisition, the group aims to generate RM170mil in gross development value from the financial year ending Dec 31, 2015 onwards.

The new land, called Sendayan TechPark, will enlarge the group’s industrial land bank to 1,164 acres in total.

Chairman Mohamad Haslah Mohamad Amin said the existing two phases of STV have been very well-received with more than 760 acres sold to date, mainly to leading high-technology manufacturing companies worldwide.

"We are proud that STV has attracted more than RM3.8bil in foreign direct investment since 2013," it said.

The group said the acquisition will be equally funded by internally generated funds and bank borrowings.

It is estimated to be completed by end-2014 and proposed development is expected to commence in 2015. - THESTAR

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