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Friday, December 26, 2008

Developer’s big plans for Pulau Indah

KLANG: Central Spectrum (M) Sdn Bhd, a property developer in Pulau Indah, plans to launch more projects on the island next year as sales have been encouraging.

The company, which is developing a 2129.6ha in Pulau Indah into integrated township, has to date developed and sold 1,000ha worth a gross development value (GDV) of RM1.1bil.

The township comprises industrial (61%), residential (35%) and commercial (4%) properties.

“The Phase 1 of Selangor Halal Hub, consisting of 120ha, was sold to ten investors. The investment value, including land, buildings and machineries, will be about RM840mil,” said general manager Roslan Ahmad.

“The Phase 2, which is now open for registration, comprises 160ha with a GDV of RM250mil.”

Roslan said a further “two factories with investment of RM200mil will be operational next year and another two in the final planning stage,” adding that Central Spectrum’s projects on Pulau Indah were slated to last until 2014.

Central Spectrum is 76.7% owned by Kumpulan Hartanah Selangor Bhd and 23.3% by AMDB Bhd.

Pulau Indah has also attracted a Belgium-based oleo chemical group, which is set to commission its RM72mil plant, covering 3.0ha, by March 2009.

“This is our group first venture outside Europe. We chose Malaysia because it provides good access into China and US markets, as well as benefits from the currency exchange rate,” said managing director James de Caluwe. “Malaysia Development Industrial Authority has also approved a 10-year pioneer (tax incentive) status to our company,” he added.

Meanwhile, the Selangor government has called on the Federal Government to speed up infrastructure works and public services facilities in Pulau Indah.

“We hope that it could provide a police station, a fire station and a medical centre in Pulau Indah, as it currently does not have any, Selangor State Investment Centre’s (SSIC) chief executive officer Datuk Mohd Jabar Ahmad Kembali said

“Make sure the construction of a second access to the island, the South Klang Valley Expressway, to be completed on schedule in 2012, as it is important to reduce road congestion and attract more investors into the island,” he said after a briefing by Central Spectrum.

By The Star (by K.C Law)

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