Unlocking the potential of Perak as the next industrial powerhouse

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(From left) Nizran, Abdul Rahim, Redza, Izran and Shanker posing for a group photo after the press conference.

(From left) Nizran, Abdul Rahim, Redza, Izran and Shanker posing for a group photo after the press conference.

KUALA LUMPUR: Majuperak Holdings Bhd, Perbadanan Kemajuan Negeri Perak (PKNP) and InvestPerak have joined forces to explore the growing industrial development opportunities in the Silver State.

Perak has always been at the forefront of development in Malaysia, having been at the centre stage of building the Malaysian economy in the formative years of the country. With such vast potential and a huge land bank, the coalition of Perak-based organisations is aiming to transform the state into the next industrial powerhouse, said Majuperak Holdings executive chairman Datuk Redza Rafiq Abdul Razak.

“The Perak State Government launched the Perak Sejahtera Development Plan 2030 developed by Institut Darul Ridzuan (IDR) and the State Economic Planning Unit (UPEN) to steer the government machinery in the state’s development for the next 10 years.

“The plan, which is dynamic, realistic and achievable, is a continuation of previous development plans as well as taking into account other medium and long-term development plans at the federal and state level,” he said.

Redza, who is also PKNP chief executive, said the plan outlines five strategic thrusts, including the creation of a balanced physical and socio-economic development, leveraging on smart partnership and the sustainable use of natural resources.

It also includes the establishment of an efficient and caring service delivery system and providing quality and high-value expertise.

The timing appears to be in favour of the organisations’ move to up the game for Perak, in tapping into its advantageous position of being in between two tier-1 industrial states, Selangor and Penang.

With the potential of over 3,000 acres of land banks, the Perak-based organisations envision steady growth of the state economy and have identified several strategic parcels of land with the potential to be developed into high-end, modern industrial parks. 

Three parcels of industrial land in Kanthan, Ipoh, measuring 470 acres, are to be developed into part of an industrial park called Silver Valley Technology Park 2 (SVTP 2), which is expected to be a high impact project forming part of the Northern Corridor Economic Region (NCER). 

Under the state’s Strategic Development Plan 2021 – 2025, the NREC will act as a catalyst for new job opportunities and domestic talent inflow.

“Majuperak has previously been predominantly involved in residential housing development. We now intend to expand our development strategy by taking advantage of the current strong growth of the industrial market,” Majuperak chief executive officer Nizran Noordin said.

“Rahim & Co has been appointed our consultant and transaction manager to roll out a Request For Proposal exercise to manage this process and assist in identifying and negotiating with potential partners that the state can work together with to develop these parcels of land,” he said.

InvestPerak chief executive officer Izran Abdullah said the investment opportunities in Perak were manifold, adding that Perak is blessed with an abundance of natural resources. 

“Currently the state is actively seeking for downstream activities that can benefit from the presence of minerals in Perak,’ he said. 

Moreover, the future looks promising for the industrial market. While the last two years have been exceptionally bad due to the devastating effects of Covid-19, the industrial market has not only remained steady but, in fact, thrived, said Rahim & Co International Sdn Bhd real estate agency chief executive officer (CEO) Siva Shanker.

Rahim & Co executive chairman Datuk Abdul Rahim Abdul Rahman was also present at the press conference. 


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