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Tuesday, July 10, 2012

Astral Asia unit secures grant for park development

PETALING JAYA: Astral Asia Bhd has secured a government grant via its wholly-owned subsidiary Tasja Development Sdn Bhd to facilitate the phase one development of the Kuantan Hi-Tech Park.

Astral said in a statement that Tasja had already signed the agreement with the Government and Bank Pembangunan Malaysia for a facilitation fund of RM57.5mil for the phase one development of the 2,433.68-acre integrated industrial park.

It added that work on the park was expected to start early next year.

Tasja is to be the developer of the Kuantan Hi-Tech Park phase one project while Syarikat Ladang LKPP Sdn Bhd (SLLKPP) was to provide land for the development.

SLLKPP is 65%-owned by Astral and 35% by the Pahang state government agency Lembaga Kemajuan Perusahaan Pertanian Negeri Pahang.

The Kuantan Hi-Tech Park is to be developed with a vision to integrate the development of the industrial zone as a catalyst project and natural progression, which is complementary to the current activities undertaken in the East Coast Economic Region’s Special Economic Zone of Malaysia.

By The Star

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