Palau Indah Industrial Park Phase 3C was acquired for RM17mil.
PORT KLANG: Pulau Indah Industrial Park master developer Central Spectrum (M) Sdn Bhd (CSSB), a member of Menteri Besar Selangor (Incorporated), and Tri-Mode System (M) Bhd (Tri-Mode) has inked an agreement of the purchase of Tri-Mode’s third warehouse and distribution hub as part of its Phase 3 business expansion plan.
Despite the negative outlook due to the pandemic, companies should see this as an opportunity to reassess their growth strategies, said CSSB chief executive officer Mohamad Razif Abdul Wahab.
“A stronger focus in near-shoring critical components of their supply chain to ensure that the needs of markets close to the region can be met by Pulau Indah. Strong presence of MNCs and local corporations, such as Tri-Mode, IKEA, Oleon and Mewah Oil, represents a true testimony of what Pulau Indah has to offer,” he said.
In facilitating these investments, Invest Selangor Bhd serves as a one-stop agency, providing information, advisory services, and start-up or expansion assistance to potential and existing investors, he added.
The purchased industrial land in Pulau Indah Industrial Park Phase 3C (PIIP 3C) is 5.38 acres with an investment cost of RM17mil. Tri-Mode will construct a new Class A warehouse and distribution hub with an approximately 150,000 sq ft built-up area with a total investment value of RM42mil.
“We have commenced our operations at our new HQ and Distribution Hub on 29 March 2021, fulfilling our promise to build and operate once vacant possession is delivered to us as per the stipulated timeline,” said Tri-Mode group managing director Datuk Hew Han Seng.
As a Selangor state-affiliated entity, CSSB is confident that significant progress will be made within the next six to 12 months as it embarks on a wide-ranging effort to address the needs of multinationals as well as support the export and domestic driven Malaysian industries.
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