PETALING JAYA: Berjaya Property Bhd has entered into a joint venture agreement with Trusmax Investment Co, Ltd (Trusmax), a wholly-owned subsidiary of Wanli Tire Co, Ltd (Wanli Tire), one of China’s leading tyre manufacturers, for the development of a state-of-the-art high-performance tyre manufacturing facility in Malaysia.
The signing ceremony was attended by Investment, Trade and Industry Minister Sim Tze Tzin and Selangor Investment, Trade and Mobility executive councillor Ng Sze Han.
Under the agreement, Berjaya Property, through its subsidiary Alam Baiduri Sdn Bhd and Trusmax, will jointly undertake the development of the high-performance green rubber tyre production base in Bukit Tagar, Selangor. The site, measuring about 67.9 acres, will comprise 16 purpose-built industrial and support facilities. According to Berjaya Property, the total investment is approximately RM1.3bil.
Upon full commissioning, the plant is expected to achieve an annual production capacity of 1.2 million Truck and Bus Radial (TBR) tyres and 5 million Passenger Car Radial (PCR) tyres, positioning Malaysia as a strategic manufacturing and export hub within Wanli Tire's global production network.
“This investment reflects the confidence of international companies in Malaysia's economic fundamentals, strategic location and growth potential. We would also like to acknowledge and commend the government of Malaysia for its continued efforts in fostering a business-friendly environment,” said Berjaya Corporation Bhd founder and advisor Tan Sri Vincent Tan Chee Yioun.
“Partnering with Berjaya Group fills us with confidence and expectation for our Malaysian manufacturing base. From initial talks to the signing, we have received strong support from parties in both China and Malaysia throughout the process which encourages us and reinforces our long-term commitment to rooting in Malaysia and pursuing shared prosperity,” said Wanli Tire chairman and Guangzhou Industrial Investment Holding Group deputy general manager Cao Xiandong.
Stay ahead of the crowd and enjoy fresh insights on real estate, property development and lifestyle trends when you subscribe to our newsletter and follow us on social media.
