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UMW disposes of 140 acres of land in Serendah to LONGi for RM304.9m

UMW disposes of 140 acres of land in Serendah to LONGi for RM304.9m

31 Aug 2022

UMW Group is disposing of 140 acres (56.66 hectares) of land at the UMW High Value Manufacturing Park (UMW HVM Park) in Serendah to LONGi (Kuching) Sdn Bhd for RM304.92 million.

Shanghai Stock Exchange-listed LONGi is the world’s largest manufacturer of monocrystalline silicon wafers.

In a statement on Wednesday (Aug 31), UMW Group said its unit UMW Development Sdn Bhd inked the deal on Tuesday.

The group said the 861-acre UMW HVM Park site offers secured and integrated Industry 4.0 infrastructure and technologies.

It said the park also integrates sustainability into its design, embedding environment-friendly and energy-efficient technologies and solutions.

LONGi is the largest producer of solar cells in Malaysia.

The purchase of land at the UMW HVM Park is part of its plan to expand its operations and increase the production volume to cater to growing demand.

UMW Development Sdn Bhd group director Eric Chew Kar Kean said that at present, about 84% of the UMW HVM Park’s southern zone has been taken up, with 40 companies committed to setting up their manufacturing operations at the park.

“We are also ready to support their automation requirements by working closely with UMW Group to provide the required products, services and solutions,” he said.

UMW Holdings Bhd president and group chief executive officer Datuk Ahmad Fuaad Kenali said the addition of LONGi exemplifies the growing number of advanced manufacturing companies interested in setting up operations at the UMW HVM Park, which is also home to UMW Aerospace Sdn Bhd — Malaysia’s first Tier 1 fan case supplier to Rolls-Royce.

Source: The Edge Markets