Latest news with #InvestSelangor
The Sun
10 hours ago
- Business
- The Sun
Kota Puteri GRIP Phase 1 offers modern industrial investment in Selangor
SHAH ALAM: The Selangor State Development Corporation (PKNS) has launched Phase 1 of the Kota Puteri Green Industrial Park (GRIP) project, presenting a strategic investment opportunity with 52 semi-detached factory units and 13 industrial land lots in Rawang. The initiative aims to attract businesses seeking a modern, sustainable industrial environment with high connectivity and incentives. Fadli Mohd Ariff, PKNS general manager of Sales and Marketing, highlighted the project's advantages during the PKNS Industry Exhibition 2025 at Galeria SA Sentral. 'Phase 1 includes 13 industrial land lots ranging from 1.5 to 2.7 hectares, catering to diverse industrial needs. Additionally, 52 semi-detached factory units are available, with 20 Type A units (8,727 sq ft) and 32 Type B units (10,623 sq ft),' he said. The development offers exclusive amenities such as a professional club, co-working spaces, and high-speed internet, enhancing productivity within a gated industrial park. Fadli emphasised GRIP's role in boosting Selangor's industrial ecosystem, supported by its proximity to major highways like LATAR, WCE, and ECRL. 'This connectivity ensures seamless access to Kuala Lumpur, Port Klang, and key industrial zones,' he added. GRIP holds GreenRE certification, reinforcing its sustainability credentials across a 151-hectare area. Infrastructure includes a 42MW power supply, 5.8 million litres of daily water capacity, and 4G/5G coverage. The elevated site (46.4 metres) minimises flood risks, while Type B factories feature cargo lifts for logistics efficiency. Investors benefit from fast-track approvals, tax exemptions, and up to 100% foreign ownership under Invest Selangor policies. The PKNS Industry Exhibition 2025 also gathered over 70 property agents and industrial consultants to promote the project. – Bernama
The Sun
5 days ago
- Business
- The Sun
AIMS completes Cyberjaya Block 3 early, expedited by Invest Selangor, MDEC, MIDA, local councils
KUALA LUMPUR: AIMS Data Centre Sdn Bhd (AIMS), a leading digital infrastructure provider in Southeast Asia, has completed its Cyberjaya Block 3 facility ahead of schedule—further cementing Malaysia's position as the region's premier data centre hub. This milestone significantly expands AIMS' footprint in the Klang Valley, bringing its total potential capacity to over 100 megawatts (MW) and establishing AIMS as the operator with the largest data centre capacity in Cyberjaya. 'This achievement reflects our strategy of building in line with confirmed demand rather than speculation,' said AIMS Chief Executive Officer Chiew Kok Hin. 'It also signals growing market confidence in Malaysia as a prime destination for digital infrastructure.' Originally slated for completion in 2025, Block 3 was delivered early thanks to accelerated planning, strong customer commitment, and robust demand from hyperscalers, cloud providers, content networks, and enterprises seeking scalable infrastructure in Malaysia. Chiew credited proactive support from key stakeholders for the early delivery. These included Invest Selangor, the Malaysia Digital Economy Corporation (MDEC), the Malaysian Investment Development Authority (MIDA), and local authorities such as Majlis Perbandaran Sepang, Kuala Lumpur City Hall, Air Selangor, and Tenaga Nasional Bhd. He cited a recent example where Invest Selangor coordinated a multi-agency meeting within a week, effectively fast-tracking AIMS' expansion timeline. 'This level of collaboration between the public and private sectors is crucial to sustaining Malaysia's leadership in the digital economy,' Chiew said. 'We are grateful to all who have supported us on this journey.' Chiew added that interest from global hyperscalers and digital service providers continues to grow, driven by regional digital transformation, the rise of AI and cloud workloads, and Malaysia's appeal as a strategic and cost-effective location. 'Global players are increasingly turning to Malaysia for its competitive cost structure, abundant power and land availability, supportive government policies, and proximity to regional markets,' he said. 'Cyberjaya Block 3's readiness is a testament to our operational agility and the trust our customers place in us.' Founded in Malaysia in 1990, AIMS has evolved into one of the region's most interconnected data centre operators. Since DigitalBridge's investment in 2022 and its partnership with Time dotCom, AIMS has raised over RM2 billion in capital to support its expansion across Malaysia. 'At AIMS, we take pride in contributing to Malaysia's digital economy. Our infrastructure helps attract foreign direct investment (FDI), creates high-value jobs, and strengthens the local talent pool,' Chiew said. The company currently employs over 200 direct staff, offering technical and skilled roles that promote career growth. An additional 100 workers are engaged through its construction and operational support ecosystem. In line with its sustainability goals, AIMS has embedded environmental, social, and governance (ESG) principles into its operations. Its data centre facilities feature energy-efficient systems and are backed by renewable energy certificates (RECs) to reduce carbon emissions. 'Beyond regulatory compliance, we believe in sustainable sustainability—designing for long-term value creation while championing environmental responsibility,' Chiew said. 'Our purpose goes beyond building data centres. It's about building Malaysia's digital future.'
The Sun
10-07-2025
- Business
- The Sun
Selangor's 2024 GDP hits record RM432b
SHAH ALAM: Selangor continued to cement its position as Malaysia's economic powerhouse, recording a historic GDP of RM432.1 billion in 2024, the highest among all states. This milestone marks a significant leap from RM406.1 billion in 2023, making Selangor the first and only state to cross the RM400 billion threshold for the two-year running. This performance reaffirms Selangor's role as the leading contributor to the national economy, accounting for a stellar 26.2% of Malaysia's total GDP, an increase from 25.9% in the previous year. Selangor's economic resilience and upward momentum are further evidenced by a robust y-o-y GDP growth rate of 6.3%, outperforming the national average of 5.1%. In a statement, Invest Selangor said that this achievement reflects Selangor's strong economic fundamentals, sustained investor confidence and strategic efforts by the state to drive high-impact, inclusive and sustainable growth. It added Selangor continues to chart the way forward, contributing an impressive 32.9% to Malaysia's total manufacturing output and reaffirming its position as the nation's leading industrial powerhouse. Selangor also leads in the services sector, contributing 26.9% to Malaysia's overall performance in this segment. The services sector is the largest contributor to Selangor's GDP, accounting for 61.1% and growing by 6.3% to reach RM263.9 billion. This growth is supported by subsectors such as wholesale and retail trade, F&B and accommodation, utilities, transportation & storage and information & communications, finance and insurance services, real estate and business services. The second-largest contributor is the manufacturing sector which accounts for 29.1% and recorded a growth of 5.1% driven by subsectors such as electrical & electronics, vegetable & animal oils and fats, food processing, beverages and transport equipment. 'Our continued progress is a reflection of the collective commitment and hard work of all stakeholders from the public and private sectors to civil society and the rakyat. Together, we have built a thriving ecosystem that not only attracts investment, but also creates quality jobs and uplifts communities,' said Selangor Menteri Besar, Datuk Seri Amirudin Shari. The state's diverse economy saw significant contributions from the services, manufacturing, and primary sectors, further strengthening its appeal as an attractive top tier investment destination with future-ready infrastructure and a highly skilled workforce. Looking ahead, Selangor will continue to champion regional economic leadership through business platforms such as the Selangor International Business Summit 2025 (SIBS), taking place from Oct 8-11 at the Kuala Lumpur Convention Centre. Now in its 9th edition, SIBS has become one of Southeast Asia's premier trade and investment events, fostering business interaction and matching, knowledge exchange and global partnerships. 'Selangor's impressive GDP performance is the result of long-term planning and targeted initiatives to attract quality investments across high-growth industries,' said Invest Selangor Bhd CEO Datuk Hasan Azhari Idris.
The Star
10-07-2025
- Business
- The Star
Selangor hits record-high RM432.1bil GDP in 2024, leading Malaysia's economic growth
Selangor Mentri Besar Datuk Seri Amirudin Shari— KK SHAM/The Star SHAH ALAM: Selangor continues to cement its position as Malaysia's economic powerhouse, achieving an astounding Gross Domestic Product (GDP) of RM432.1 billion in 2024, the highest among all states. Invest Selangor said in a statement that the stellar achievement marks a significant momentum from RM406.1 billion in 2023, making the state as the first ever to cross the RM400 billion threshold for two consecutive years. According to the statement, the outstanding performance reaffirms Selangor's role as the leading contributor to the national economy, accounting for a stellar 26.2 per cent of Malaysia's total GDP, an increase from 25.9 per cent the previous year. "Selangor's economic resilience and upward momentum are further evidenced by a robust year-on-year GDP growth rate of 6.3 per cent, outperforming the national average of 5.1 per cent. "This achievement reflects the state's strong economic fundamentals, sustained investor confidence and strategic efforts by the state to drive high-impact, inclusive and sustainable growth," the statement said. Invest Selangor further noted that last year, the state contributed 32.9 per cent to Malaysia's total manufacturing output as well as being the leading services sector, contributing 26.9 per cent to the nation's overall performance in the sector. "The services sector is the largest contributor to Selangor's GDP, accounting for 61.1 per cent and growing by 6.3 per cent to reach RM263.9 billion. "This growth is supported by subsectors such as wholesale and retail trade, food and beverages, accommodation, utilities, transportation, storage, information and communications as well as finance and insurance services including real estate and business services," the statement noted. The second-largest contributor is the manufacturing sector which accounts for 29.1 per cent and recorded a growth of 5.1 per cent driven by subsectors such as electrical and electronics, vegetable and animal oils, and fats, food processing, beverages and transport equipment. In the same statement, Selangor Menteri Besar Datuk Seri Amirudin Shari said the continued progress is a reflection of the collective commitment and hard work of all stakeholders, from the public and private sectors to civil society and the people. "Together, we have built a thriving ecosystem that not only attracts investment but also creates quality jobs and uplifts communities,' he said. The agency also expressed the state's commitment to champion regional economic leadership through business platforms such as the Selangor International Business Summit (SIBS) 2025, taking place from Oct 8 to 11 at the Kuala Lumpur Convention Centre (KLCC). Invest Selangor chief executive officer Datuk Hassan Azhari Idris said the impressive performance is the result of long-term planning and targeted initiatives to attract quality investments across high-growth industries. "At Invest Selangor, we are focused on facilitating sustainable, innovation-driven investment while enhancing Selangor's global competitiveness. This October, SIBS 2025 will once again serve as a powerful platform to showcase Selangor's economic strengths and connect investors with real opportunities," he said. - Bernama
New Straits Times
10-07-2025
- Business
- New Straits Times
Selangor hits record RM432.1bil GDP, retains top spot
KUALA LUMPUR: Selangor has strengthened its status as Malaysia's top economic contributor, charting a record-high gross domestic product (GDP) of RM432.1 billion in 2024. Invest Selangor Bhd reported that this is up from RM406.1 billion in 2023, making Selangor the only state to surpass RM400 billion in GDP for two consecutive years. The state's share of the national GDP also rose to 26.2 per cent, compared to 25.9 per cent in the previous year. Selangor's GDP expanded by 6.3 per cent year-on-year, outpacing the national growth rate of 5.1 per cent and reflecting the state's broad-based economic strength underpinned by solid fundamentals and sustained investor interest. Selangor also accounted for 32.9 per cent of Malaysia's total manufacturing output, reaffirming its role as a key industrial hub, while leading the services sector with a 26.9 per cent share of the national total. The services sector remained Selangor's main growth driver, contributing 61.1 per cent to its GDP and expanding by 6.3 per cent to RM263.9 billion. Growth was driven by subsectors such as wholesale and retail trade, food and beverages, accommodation, utilities, transportation and storage, and information and communications, and finance and insurance, as well as real estate and business services. Manufacturing was the second-largest contributor at 29.1 per cent, registering a 5.1 per cent increase. Key drivers included electrical & electronics, vegetable & animal oils and fats, food processing, beverages and transport equipment. Selangor chief minister Datuk Seri Amirudin Shari said Selangor's continued progress is a reflection of the collective commitment and hard work of all stakeholders from the public and private sectors to civil society and the rakyat. "Together, we have built a thriving ecosystem that not only attracts investment but also creates quality jobs and uplifts communities," he said in a statement today. Selangor's diversified economy saw significant contributions from the services, manufacturing, and primary sectors, reinforcing its position as a top-tier investment destination with strong infrastructure and a skilled workforce. Looking ahead, the state aims to maintain its regional economic leadership through business platforms like the Selangor International Business Summit (SIBS) 2025, which will be held from Oct 8 to 11 at the Kuala Lumpur Convention Centre. Now in its ninth edition, SIBS has become one of Southeast Asia's premier trade and investment events, facilitating business interaction and matching, knowledge exchange, and global partnerships. Selangor also remains focused on collaborative, data-driven, and innovation-led strategies to build a resilient, inclusive, and high-performing economy. Invest Selangor's chief executive officer said Selangor's impressive GDP performance is the result of long-term planning and targeted initiatives to attract quality investments across high-growth industries. "At Invest Selangor, we are focused on facilitating sustainable, innovation-driven investment while enhancing Selangor's global competitiveness. "This October, SIBS 2025 will once again serve as a powerful platform to showcase Selangor's economic strengths and connect investors with real opportunities," he said.
