SHAH ALAM, April 12 (Bernama) — The Selangor State Development Corporation (PKNS) has signed a 60-year land lease agreement with Lam Soon Edible Oil (M) Sdn Bhd (Lam Soon) to develop offices, warehouses and research and development centres in Selangor Cyber Valley in Sepang.
Selangor Cyber Valley (SCV), previously known as Selangor Science Park 2, developed by the Selangor State Development Corp (PKNS), received a boost with another new developer entering the fray to develop 24.21 acres of land.
Lam Soon Edible Oil (M) Sdn Bhd signed a memorandum of understanding (MoU) with PKNS to be part of SCV’s smart, green and sustainable development valued at RM16.9 billion.
The MoU was signed between Lam Soon (M) Sdn Bhd deputy executive chairman Khoo Heng Suan, and PKNS southern region development controller Lokman Abdul Kadir and PKNS executive secretary Roziah Ahmad, witnessed by PKNS GM Azlan Md Alifiah.
It joins other private developers such as Hanwha Q Cells Malaysia Sdn Bhd, Brainy Bunch Islamic Montessori and the International School of Korea.
Lam Soon, through its subsidiaries, engages in plantation/oil milling and palm oil refining among others, and the new signing allows them to develop their own offices, a warehouse and a research and development centre in SCV. Lam Soon Edible Oil Bhd is a subsidiary of Lam Soon Malaysia.
“Now with Lam Soon’s entry, SCV is capable of becoming an integrated urban growth centre. The area will be a catalyst for growth for the surrounding areas and make a positive impact on other projects with bigger goals,” said Azlan.
As part of the SCV development, PKNS will also provide 2,256 units of Selangorku houses in stages beginning next year.
The development of SCV, the 11th urban centre by PKNS, on a 526ha site in the Sepang District is estimated to take 20 years.
Azlan said the urban centre would be equipped with a high-speed broadband service for commercial and residential use in line with its urban development concept, which emphasises “work-live-play”.
SCV can be accessed from the South Klang Valley Expressway, the Elite highway and the Maju Expressway, and is a 15-minute drive from the Kuala Lumpur International Airport.
Source : BERNAMA, Malaysian Reserve, tv.selangorku.com