Latest news with #OrientalHoldingsBhd
The Star
16-05-2025
- Business
- The Star
LBS, Oriental Holdings join forces for Melaka's future city
The Memorandum of Understanding (MoU) signing ceremony between LBS and Oriental Holdings Bhd was witnessed by (from left) Melaka state finance officer Datuk Salhah Salleh, Melaka state secretary Datuk Azhar Arshad, Loh, Ab Rauf, Hock San, Daniel Lim and Oriental Holdings group chief financial officer Wong Tet Look. MELAKA: A major development corridor spanning from Kota Laksamana to Klebang here has been earmarked as the future state capital, said Melaka Chief Minister. Datuk Seri Ab Rauf Yusoh said that the upcoming city would act as a catalyst for growth in the tourism, industrial and commercial sectors of the state. "This initiative will play a vital role in supporting the state government's plans under the Straits of Malacca Special Economic Zone (SM-WEZ), envisioned as a 'Future Maritime City' and the new administrative capital," he said. Ab Rauf emphasised that the Melaka Government remains committed to taking proactive steps to support private sector involvement in developing high-technology industrial sectors. He made these remarks during the signing of a Memorandum of Understanding (MoU) between property developer LBS Bina Group Bhd (LBS) and diversified conglomerate Oriental Holdings Bhd. The two parties will collaborate on a mixed-use industrial development project. The MoU was signed by LBS executive director Datuk Seri Daniel Lim and Oriental Holdings executive chairman Datuk Loh Kian Chong. LBS executive chairman Tan Sri Ir Dr Lim Hock San, who was present, said the MOU marks a key step in their southern expansion, reinforcing their commitment to regional growth and people-focused communities. 'In partnership with Oriental Holdings, 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.' Ab Rauf also noted that this partnership marks the first strategic collaboration between LBS and Oriental Holdings. He expressed confidence that the synergy between the two companies, drawing on their combined expertise, experience and resources will yield significant benefits for the state. "This partnership is expected to be a driving force behind more sustainable and competitive development in the state.' He added that the initiative forms part of efforts to strengthen the industrial and commercial landscape through strategic public-private collaboration, in line with the state's agenda for progressive, inclusive and sustainable development. The agreement, he said, involves a high-impact development in the strategic Klebang area, comprising residential, commercial and industrial components. One of the key projects includes an integrated development spanning over 227ha, which will feature a blend of industrial zones, a logistics hub, commercial lots, business spaces and clusters of modern residential units. Ab Rauf stated that the project would significantly contribute to the progress of the SM-WEZ. "It's expected to address last-mile connectivity challenges within the core zone of the SM-WEZ blueprint. "I believe that development along this coastal economic corridor will enhance investor confidence and unlock broader opportunities for capital inflows and long-term economic sustainability," he said. Ab Rauf also noted that the project's strategic location, positioned between three current and planned key ports, would provide a competitive advantage. "The presence of nearby shipbuilding and maintenance industries will further support the area's emergence as a new central business and commercial hub,' he said. In a statement, LBS said the project has an estimated gross development value (GDV) exceeding RM7bil. "Klebang was selected due to its strategic position within the SM-WEZ, offering high growth potential through coastal access, expanding infrastructure and alignment with Melaka's long-term economic transformation plan,' the company said. The development is primarily aimed at meeting the needs of small and medium enterprises (SMEs), particularly those operating in oil and gas production, manufacturing, food and beverage supply chains, as well as logistics and warehousing. The statement also highlighted the project's location along a main access road, adding that the industrial units will possess commercial value, functioning as retail showroom warehouses.
The Star
16-05-2025
- Business
- The Star
LBS, Oriental Holdings join forces for Melaka's strategic growth
The Memorandum of Understanding (MoU) signing ceremony between LBS and Oriental Holdings Bhd was witnessed by (from left) Melaka state finance officer Datuk Salhah Salleh, Melaka state secretary Datuk Azhar Arshad, Loh, Ab Rauf, Hock San, LBS executive director Datuk Seri Daniel Lim and Oriental Holdings group chief financial officer Wong Tet Look. MELAKA: A vast development zone stretching from Kota Laksamana to Klebang here will be designated as the new state capital, said Melaka Chief Minister. Datuk Seri Ab Rauf Yusoh said that the upcoming city would act as a catalyst for growth in the tourism, industrial and commercial sectors of the state. "This initiative will have a significant impact in supporting the state government's ambition to implement the development plans under the Special Economic Zone of the Straits of Malacca (SM-WEZ), which is conceptualised as a 'Future Maritime City' and the new capital city. 'The Melaka government will continue to take proactive steps in focusing on and supporting the private sector in developing industrial segments, particularly high-technology industries,' he said. Ab Rauf was speaking after the Memorandum of Understanding (MoU) signing ceremony between LBS Bina Group Bhd and Oriental Holdings Bhd, held at a hotel in Ayer Keroh on Thursday. Also present at the event were the LBS Bina Group Bhd executive chairman Tan Sri Ir Dr Lim Hock San and Oriental Holdings Bhd executive chairman Datuk Loh Kian Chong. Ab Rauf highlighted that this marks the first strategic collaboration between LBS Bina Group and Oriental Holdings, expressing confidence that the synergy combining the expertise, experience and resources of both major entities will bring about substantial benefits. "This partnership will serve as a catalyst for more sustainable and competitive development in Melaka,' he said. Ab Rauf noted that this effort is part of strengthening the industrial and commercial development landscape of the state through strategic public-private collaboration to realise a progressive, inclusive and sustainable development agenda. "The agreement involves high-impact property development in the strategic area of Klebang, covering residential, commercial, and industrial components. 'One of the key projects planned is an integrated development on over 202ha of land, which will house a mix of industries, a logistics hub, business spaces, commercial lots and clusters of modern residences,' he said. Ab Rauf said that this project will directly contribute to the overall progress of SM-WEZ. "It's expected to address last-mile connectivity issues in terms of infrastructure within the nucleus area of the SM-WEZ Blueprint. "I believe that development along this coastal economic corridor will boost investor confidence, opening wider opportunities for investment flows and sustainable economic growth,' he added. Ab Rauf said that the development is timely, given its strategic location between three existing and planned key ports "The presence of shipbuilding and maintenance industries nearby will further support the area's potential to emerge as a new central business and commercial district,' he added.
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
