NCT Group, Future Inno Park sign MoU for Kuala Langat Industrial Hub project

TheEdge Tue, Aug 18, 2020 12:03pm - 3 years View Original


KUALA LUMPUR (Aug 18): NCT Group of Companies and Future Inno Park Sdn Bhd signed a Memorandum of Understanding (MoU) yesterday to mark a partnership for the development of NCT Group’s Kuala Langat Industrial Hub project.

The MoU was signed between NCT Group founder Datuk Sri Yap Ngan Choy and Future Inno Park director Datuk Jeffrey Ng Chin Heng. It was witnessed by ADUN Bandar Baru Klang and Selangor State Senior Executive Councillor for Investment, Industry, Commerce and SME (small and medium enterprises) Datuk Teng Chang Khim as well as NCT Group co-founder Datuk Joe Yap Fook Choy.

In a press statement, Ngan Choy noted that the Kuala Langat Industrial Hub is poised to take business capabilities to new heights, and is expected to attract various industry players and investors. 

“The MoU will pave the way to introduce the project to foreign investors in the international market,” he said. The Kuala Langat Industrial Hub is located at the border between the Kuala Langat and Sepang districts, approximately 15 kilometres away from the Kuala Lumpur International Airport (KLIA).

The MoU would see Ng being instrumental in bringing in international buyers to invest in the project, and he observed that foreign electrical and electronics (E&E) firms are looking to relocate their businesses to Malaysia to diversify their production.

“The Ministry of International Trade and Industry (MITI) reported in June that it had a pipeline of investment projects worth about US$13 billion (RM54.45 billion). The Kuala Langat Industrial Hub is the perfect investment location to feed the demands of these investors. We are excited to collaborate with NCT Group on this matter,” he shared.

An active leader in the Chinese business community, including being a committee member of the Federation of Chinese Associations Malaysia and the chairman of the public committee of the Malaysia-China Chamber of Commerce, Ng is also the chairman of a few public listed companies, such as LBI Capital Bhd, and Anakku. 

Meanwhile, the partnership is expected to propel Selangor further as a valuable investment destination, and Teng noted that the state government welcomes such developments as they 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, a good supporting local engineering cluster and talent to fulfil all investment needs,” he said.

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