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New Straits Times
16-05-2025
- Business
- New Straits Times
LBS Bina, Oriental Holdings sign RM7bil MOU for industrial project in Melaka
KUALA LUMPUR: LBS Bina Group Bhd has entered into a Memorandum of Understanding (MOU) with Oriental Holdings Bhd (OHB) to jointly develop an integrated mixed-use industrial project in Klebang, Melaka, with an estimated gross development value (GDV) exceeding RM7 billion. 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
The Star
15-05-2025
- Business
- The Star
LBS Bina, Oriental Holdings ink MoU for RM7bil GDV mixed-use industrial project in Melaka
From left: Melaka State Finance Officer Datuk Salhah Salleh, Melaka State Secretary Datuk Azhar Arshad, Oriental Holdings Bhd executive chairman Datuk Loh Kian Chong, Melaka Chief Minister Datuk Seri Ab Rauf Yusoh, LBS Bina group executive chairman Tan Sri Ir (Dr) Lim Hock San, LBS Bina executive director Datuk Seri Daniel Lim and Oriental Holdings group chief financial officer Wong Tet Look. MELAKA: Property developer LBS Bina Group Bhd has signed a memorandum of understanding (MoU) with diversified conglomerate Oriental Holdings Bhd to collaborate on a mixed-use industrial development project. In a statement, LBS Bina said that the project, which has an estimated gross development value (GDV) of over RM7 billion, is located in Klebang, here. "Klebang was chosen due to its strategic location within the Straits of Melaka Waterfront Economic Zone (SM-WEZ), which offers high growth potential through coastal access, expanding infrastructure, and alignment with Melaka's long-term economic transformation agenda. "The primary focus of this mixed-use industrial development is to cater to the needs of small and medium enterprises (SMEs), particularly in sectors such as oil and gas production, manufacturing, food and beverage supply chains, as well as logistics and warehousing,' said LBS Bina. The MoU was signed between LBS Bina executive director Datuk Seri Daniel Lim and Oriental Holdings executive chairman Datuk Loh Kian Chong at a ceremony here today. The ceremony was witnessed by Melaka Chief Minister Datuk Seri Ab Rauf Yusoh. "The presence of the chief minister further strengthens confidence in this project and reflects the government's strong commitment to ensuring its success as a key driver of Melaka's future prosperity,' LBS Bina said. It emphasised that since the project is situated along the main access road, the industrial units will also have commercial value and will function as retail showroom warehouses. This proposed development will cover an area of approximately 227 hectares and will be carried out in four phases. Specific details regarding the location and land area breakdown are to be finalised through definitive agreements to be mutually agreed upon by all involved parties. Currently, Melaka ranks sixth among Malaysian states in terms of industrial real estate transactions. The transactions of vacant land and semi-detached properties have seen double-digit growth, driven by high demand from investors and the consumer market for self-use. Additionally, the West Coast Expressway (WCE), which is currently in the planning stage, will connect Banting, Selangor, to Gelang Patah, Johor. This route is expected to serve as an alternative to the North-South Expressway and is projected to alleviate existing traffic congestion. Once the WCE alignment is finalised, it will serve as a catalyst for the development of coastal areas nearby, such as Klang, Port Dickson, Melaka, Muar, and Batu Pahat, thereby generating a positive economic impact. - Bernama
