MELAKA: Sheng Tai International Sdn Bhd continues to catalyse Malaysia and particularly Melaka’s economic growth by signing a landmark agreement with the world’s largest global workspace provider, International Workplace Group Plc (IWG), with brands including Regus and Spaces.
The franchise agreement includes Sheng Tai International and IWG collaborating to open flexible workspaces in Malaysia. Sheng Tai International has invested approximately RM8mil to begin this partnership with three centres in the company’s commercial properties in Melaka.
The first centre, which will be developed under Regus, will open in Metrasquare, Melaka, by the end of the second quarter of 2021, while the second centre, under Spaces, will open in The Sail in 2025.
Metrasquare is a six-acre commercial development comprising a residential component called the Metrasquare Serviced Suites, a three-star hotel and a five-star hotel. It also includes retail lots as well as meeting and conference facilities.
Sheng Tai International chairman Datuk Leong Sir Ley said: “We believe this is the right time to invest in the flexible workspace industry in Malaysia, especially in Melaka, in line with the optimistic outlook post-covid-19 for the state and country. The pandemic has provided Melaka as well as flexible workspace industry an additional edge.”
She said more people and global brands are looking at strategic locations that are beyond the city centre. In addition, the pandemic has accelerated the growth of flexible workspace trends around the world.
“With our unique establishments in Malaysia coupled with IWG’s modern and world-class amenities, we are poised to appeal to discerning entrepreneurs, SMEs and multinational corporations, re-energising the economy in and around Melaka,” she said.
She added that the organisation is looking forward to opening more flexible workspaces throughout Malaysia in the next five years.
Also present at the signing ceremony were Yang-di Pertua Negeri of Melaka Tun Dr Mohd Ali Rustam, Sheng Tai International chief financial officer Tyson See, director Collin Tan, sales director Nicholas Leong, IWG plc head of partnership growth Malaysia Premita Dhaliwal and country head for Malaysia, Indonesia and Brunei, Vijayakumar Tangarasan.