LBS Bina, Oriental Holdings sign RM7bil MOU for industrial project in Melaka
The landmark development will comprise primarily industrial and commercial components, strategically located within the Straits of Melaka Waterfront Economic Zone (SM-WEZ).
Klebang was chosen for its advantageous coastal location, expanding infrastructure, and alignment with Melaka's long-term economic transformation goals.
The MOU was signed by LBS executive director Datuk Sri Daniel Lim and OHB group executive chairman Datuk Loh Kian Chong in the presence of Melaka Chief Minister Datuk Seri Utama Ab Rauf Yusoh.
The Chief Minister's attendance highlights the state government's strong support and underscores the project's pivotal role in driving economic growth and urban development in Melaka.
LBS Bina group executive chairman, Tan Sri Dr. Lim Hock San, hailed the agreement as a key milestone in the group's expansion into Malaysia's southern region.
"In partnership with OHB, we are excited to shape Klebang into a vibrant, sustainable township. By combining our expertise and shared vision, we aim to deliver lasting value, both in building sustainable developments and uplifting Melaka's economic and social landscape. We look forward to a strong, long-term partnership built on shared goals and mutual success," Lim said.
The primary focus of this mixed-use industrial development is to cater to small and medium-sized enterprises (SMEs) in sectors such as oil and gas production, manufacturing, food and beverage supply chains, and warehousing. Furthermore, given the development's frontage along a main access road, the industrial units offer commercial value, as they can also function as retail showroom warehouses.
Additionally, Melaka ranks sixth among Malaysian states in terms of industrial property transactions. Notably, the demand for vacant plots and semi-detached industrial units has recorded double-digit growth, driven by both investors and owner-occupiers.
Covering approximately 561 acres, the development will be implemented in four phases.
LBS Bina stated that detailed land demarcations and development plans will be finalised in forthcoming Definitive Agreements, to be mutually agreed upon by both parties.
Enhancing the project's connectivity and long-term potential is the upcoming West Coast Expressway (WCE), which will stretch from Banting, Selangor, to Gelang Patah, Johor.
Once completed, the highway is expected to relieve traffic on the North-South Expressway and serve as a catalyst for growth in key coastal towns including Klang, Port Dickson, Melaka, Muar, and Batu Pahat.
Corporate Jan 27, 2025 @ 12:55am
LBS Bina unveils three-year roadmap to reach new milestones
Property Apr 28, 2025 @ 3:41am
LBS Bina's 'Makan Angin Lokal' campaign achieves RM537mil in bookings
Corporate Feb 20, 2025 @ 9:39pm
LBS Bina posts 11-year high PATMI of RM240.2mil
Property Jan 16, 2025 @ 5:16am
LBS Bina marks Merdeka Campaign success with RM30,000 cash prizes for eight winners
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
an hour ago
- Borneo Post
Building teams for nation building
I WAS delighted to be able to join the retreat of the IDEAS Autism Centre team in Melaka recently. Sometimes, these company getaways can seem superficial—a big checkbox for directors, managers and executives alike to show that they care about team building, welfare and spending the allocated budget—but this one was truly purposeful and heartfelt. In recognising staff who have been serving for a decade or more, it served as a reminder of the growth of the entire project, borne out of a piece of research about providing therapy and education to some of the most disadvantaged people in our society—children on the autism spectrum from B40 families. With hundreds of children's lives transformed for the better, the people of IDEAS Autism Centre continue to work hard to work with families, corporates and government to uplift this amazing community. With three branches now—in Rawang, Nilai, and Port Dickson—the gathering enabled us to better strategise not just team cooperation, but joint events for the children as well. At one of my more corporate outfits there has been a leadership transition, and at such times the importance of having strong bonds among colleagues becomes unmistakably clear. There is often a critical period where there are rumours about resignations, replacements, disagreements amongst directors or shareholders and so on, speaking concern that may prompt others to leave as well. Thankfully, when there is a high level of trust between board and management, such turbulence can be successfully ridden out, and the company can achieve a renewed sense of purpose when the new chief executive signs the employment contract. At a session with one of the chambers of commerce of a European country, I was asked about the level of cohesiveness within Malaysian political parties. Thankfully I knew something about that country's history and politics, and could point out that individual self-interest, whether within the same or across opposing political parties, often emerges as the prime motivator for politicians anywhere in the world and at any point in history. And so, individuals switching allegiance to a different party within the same coalition, personalities condemning their party colleagues for exaggerating certain issues (being selective about race while doing so), or leaders failing to punish problematic individuals just because they are politically useful—all these are phenomena which the Malaysian public need to tolerate, while hoping that beneficial policies actually get designed and executed as the politicians clamber over one another while ascending the greasy pole. Even among that dirty profession there are bright spots though. Increasingly, I see backbench Members of Parliament from different sides working productively and intelligently towards common policy and legislative goals regarding children, refugees, or even political financing. However, when there is a particularly significant incident that catches national attention, such as the tragic death of teenage student Zara Qairina Mahathir at a religious boarding school in Sabah and the circumstances leading up to it—full of speculation but certainly involving weaknesses in processes and a pathetic response by the Ministry of Education—politicians cannot resist sliding back into hyperbole, with accusations against leaders bandied about on social media and lawsuits ensuing. I hope that in the matter of addressing bullying in our schools, political parties actively reach out to civil society organisations who have worked in education and with children, with expertise in mental health and programmes that have been proven to foster cohesion. In this and indeed all areas of public policy, we need to expand and solidify the ecosystem so that deliberate and toxic disruption to public policymaking is minimised. Political point scoring must not continue to be rewarded; rather, effective policymaking should be. Team building within civil society organisations is important, too, especially for a young and dynamic team in which some people enter and leave, pursue other careers and maybe come back. Transience and permanence of people have existed side-by-side for years at the Institute for Democracy and Economic Affairs (IDEAS), and so I was happy to join the second edition of the badminton tournament. Complete with group and knockout stages, thoughtful pairings and seedings, the researchers and administrators of the think tank were joined by the teachers and therapists of the IDEAS Autism Centre for a day of enjoyable competitiveness. Sadly I did not repeat the achievement of the bronze medal, but my partner and I—an intern destined for a management consultancy—won the Best Doubles Partner Award. Apparently we high-fived a lot. With the annual extended fortnight of celebrations between Merdeka and Malaysia Day coming up, it's an apt time for us as Malaysians to think of team building not just as a company or organisational project, but a national one too. * Tunku Zain Al-'Abidin is Founding President of IDEAS.
New Straits Times
9 hours ago
- New Straits Times
Increasing retirement age will balance with providing opportunities for youth
KUALA LUMPUR: The Human Resources Ministry has assured that any review of the retirement age will strike a balance between retaining an experienced workforce and creating opportunities for the younger generation. Its minister Steven Sim said several factors must be taken into account in developing a long-term framework, including Malaysians' rising life expectancy, the health and productivity levels of older workers, national labour demand, and the youth unemployment rate. "The Ministry also considers the long-term impact on youth employment, ensuring that any policy change will not add further pressure to the national labour market. "The main focus is to maintain a balance between retaining experienced workers and providing opportunities for the younger generation to secure jobs suited to their qualifications," he said in a written parliamentary reply. Sim said the retirement age set under the Minimum Retirement Age Act 2012 is 60, which represents the minimum age at which an employee may retire. "However, the Act does not prevent employers from hiring workers above the age of 60 or extending their employment," he said. He was responding to Riduan Rubin (Independent–Tenom), who asked about the empirical rationale and long-term policy framework behind the ministry's review of the retirement age, to ensure it does not increase pressure on youth employment opportunities or leave a highly educated younger generation without suitable jobs. On May 23, Sim said the issue of retirement age is among 28 labour laws under the purview of the ministry currently undergoing review, reforms and updates. He said the matter was being considered carefully, taking into account the suitability of any changes in the Malaysian context, as there are both pros and cons to raising the retirement age.
The Star
9 hours ago
- The Star
S$160k fine for Fullerton Healthcare Corp co-founder who approved falsified claims of over S$213k
SINGAPORE: One of the three co-founders of Fullerton Healthcare Corporation (FHC) approved six expense claim forms submitted by another co-founder, which involved falsified sums totalling over S$213,000. David Sin, 46, approved the claims on multiple occasions in 2019, despite knowing that Daniel Chan Pai Sheng, 51, had submitted them with the intent to defraud FHC, according to court documents. The prosecution, however, said that Sin did not enjoy financial gains and personal benefit from these offences. On Thursday (Aug 21), Sin pleaded guilty to six counts of falsification of accounts and was fined $160,000. The court heard that he will pay the amount in instalments. The third co-founder, Michael Tan Kim Song, 51, was not involved in these offences. All three men are Singaporeans. Sin was earlier handed seven other charges for offences including graft. Without revealing any details, Deputy Public Prosecutor Jonathan Tan made an application for him to be given a discharge amounting to an acquittal over these remaining charges. The court granted it on Aug 21. Individuals given such a discharge cannot be charged again over the same offences. The court heard that FHC was in the business of investment holding, and had various subsidiaries, including Fullerton Healthcare Group (FHG) and Fullerton Health China. DPPs Tan, David Menon, and Ashley Chin stated in court documents that Tan and Chan were medical doctors by training. In 2010, the pair co-founded FHG, which provided healthcare solutions to corporations. Some time between 2010 and 2012, Tan approached Sin to invest in FHC. Sin decided to do so in 2013 through a firm called Sin Capital Group, where he was chief executive at the time. In 2014, he employed Tei Chu Pink, 45, to be the director of Sin Capital's investment team based in Hong Kong. Investigations revealed that four years later, Chan approached Tei, a Malaysian, to claim certain business expenses from FHC. The DPPs said: 'Daniel (Chan) told (Tei) that the business expenses would be paid from Fullerton Health China's accounts, using inflated entertainment invoices, and that (Michael Tan) had consented to the arrangement.' According to the prosecution, Chan also told Tei the payments were for 'consultancy services' provided by Collin Chiew, 57, who was the Singaporean chief executive of insurance broker Aon Singapore between January 2015 and July 2018. Tei relayed this information to Sin, who consented to the arrangement. The DPPs told the court that in 2019, Chan submitted for Sin's approval six claim forms listing purported expenses of more than $334,000 in total, even though the actual expenses were less than half the amount – over $120,000. Sin approved the claims despite knowing that they had been inflated by more than $213,000. On Aug 21, the DPPs urged the court to sentence him to a fine of between $150,000 and $180,000. They said the amount involved was substantial. However, they also noted that Sin was not the mastermind behind the offences. He is represented by lawyers Melanie Ho, Tang Shangwei and Neo Yi Ling, who pleaded for their client to be fined $120,000 instead. The team from WongPartnership said he 'trusted and assumed his co-founders had good reasons for deciding to pay Collin (Chiew) in such a manner'. They added: 'With the benefit of hindsight, (Sin) accepts that he ought to have done better and should not have turned a blind eye to the breach of corporate governance.' In February 2024, the four Singaporeans – Sin, Chan, Tan and Chiew – were charged with offences including graft. The Corrupt Practices Investigation Bureau said in an earlier statement that at the time of the alleged offences, Sin was FHC's president, Chan was the president of Fullerton Health China and Tan was a director at FHG. They no longer hold the positions in the companies. The cases involving Chan, Tan and Chiew are still pending. - The Straits Times/ANN
