UPDATE

UMW Land-MIDA MoU Inked to Boost High Value Manufacturing Investments

Premier UMW Park in Serendah Enhances Malaysia’s Business Ecosystem

Langkawi, 21 March 2017 – UMW Land Sdn. Bhd. (UMW Land) has inked a Memorandum of Understanding (MOU) with the Malaysian Investment Development Authority (MIDA) to explore areas of co-operation and collaboration with regards to the industrial development of UMW’s land-bank in Serendah. UMW’s initiative to create a High Value Manufacturing Park is focused mainly on strengthening the aerospace and other industries related to smart manufacturing. The park, located next to an automotive manufacturing facility, consists of 861 acres of landas well as commercial and residential developments at the northern part of the site. This mixed development project will feature UMW Aerospace’s production facility of aeroengine fan cases for Rolls-Royce. The newly-completed facility is expected to be the premier and integral constituent of the park, and will act as a catalyst to draw in other high value investments.

The exchange of the MOU documents ceremony between UMW Land and MIDA at the Langkawi International Maritime & Aerospace Exhibition (LIMA) was witnessed by the Minister of International Trade and Industry, Dato’ Sri Mustapa bin Mohamed, and UMW Holdings Berhad Chairman, Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman. The MOU was signed at MIDA’s HQ earlier this month by Dr. Wafi Nazrin bin Abdul Hamid, President, UMW Land, and Dato’ Azman Mahmud, Chief Executive Officer of MIDA. In commenting the MOU, Dato’ Azman Mahmud said, “The greatest advantage to manufacturers in Malaysia has been the nation's persistent drive to develop and upgrade its infrastructure. Investors today are able to choose from over 500 industrial estates and Free Zones to locate their investments. New sites, fully equipped with infrastructure facilities such as roads, electricity and water supplies, and telecommunications, are continuously being developed by state governments as well as private developers to meet demand. The UMW High Value Manufacturing Park in Serendah is a welcomed addition, especially since it caters to the needs of high value manufacturing industries. The park is one of the locations that can be considered by investors, particularly those who are looking to move up the value chain by incorporating high-tech innovations.”

“We are excited to sign the MOU and look forward to working closely with MIDA as they will be able to assist in facilitating interested potential investors by introducing and recommending the development project in Serendah,” said Dr. Wafi Nazrin after the ceremony.

-end –

About UMW

The UMW Group is an international conglomerate that develops industries, manages partnerships and facilitates growth. It is involved in four core businesses – Automotive, Equipment, Manufacturing & Engineering, and Oil & Gas. Adopting its rallying call – Beyond Boundaries®, UMW is set to play a leading role in shaping the future of its industries globally. The Company will do this by inspiring vibrant ideas, nurturing potential, pioneering partnerships and delivering excellence in everything it does; the rewards of which will contribute to the progress and well-being of all its stakeholders.

About MIDA

Malaysian Investment Development Authority (MIDA) is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967, MIDA is the first point of contact for investors that want to take advantage of Malaysia’s vibrant economy, world-class infrastructure and businessfriendly environment to set up their profit centre in Asia. For more details, do visit www.mida.gov.my. For further information, please contact:-

S Vikneshwaaran

Head,
Investor, Media Relations & Sustainability
UMW Corporation Sdn. Bhd.
+603 5163 5044 / +6019 850 5799

Posted on : 21 March 2017
//
Last Updated : Thursday 16th August 2018