Vizione, NS Corp to jointly develop Malaysia Vision Valley 2.0
09 Mar 2021
KUALA LUMPUR: Integrated construction engineering group Vizione Holdings Bhd (VHB) today signed a memorandum of collaboration (MoC) with NS Corporation (NSC) to jointly develop Malaysia Vision Valley 2.0 (MVV 2.0).
Under the MoC, both companies will discuss joint venture opportunities on the developments within the master land, covering districts of Seremban and Port Dickson.
VHB executive director Chan Chee Wing the company’s current discussions centres on a development in stages with first phase being an international high speed processing, logistics, and distribution hub (IPLD) which will be part of a free trade zone.
“This development is to cater for existing huge demand for such facilities. Free trade zones have proven to be one of the best catalyst of regional economic development,” he said in a statement.
It is envisioned that the MoC shall lead to joint-venture agreement, setting up of special purpose vehicle (SPV) or any other form of definitive arrangement in due course.
MVV 2.0 is an economic growth corridor initiated by the Negeri Sembilan state government.
The state-led private sector-driven integrated economic development spans approximately 153,411 hectares of the master land.
“We intend to equip the industrial facilities with artificial intelligence, IOT (internet of things) deployment, electronic data interchange framework, high speed connectivity and automation features.
“With our construction expertise, we can design and build these next generation smart factories, distribution centers and support facilities, customized to our customers’ requirements within record time with support from governmental authorities,” Chan said.
“Our focus now is to bring the fruitful discussions with NS Corp to the next level via a definitive arrangement or agreement.
“This foray into the IPLD hub is in line with our selective expansion into high technology industrial sector which remains one of the best performing sub-segment of the development industry,” he said.
NS Corp was established in 2019 through the NS Corporation Enactment 2018 (Enactment 14) as a state statutory body.
The government agency has been entrusted by the Negeri Sembilan state government to promote, stimulate, manage, and coordinate investment and economic sectors in the state.
On the corporate front, VHB managing director Datuk Ng Aun Hooi said the company look forward to a revitalized year ahead following the nationwide mass rollout of vaccination plans.
“With macroeconomic activities expected to rebound in 2021, the construction sector will see earnings recovery as well.
“We are currently kept busy executing our construction jobs in hand, as well as bidding for a number of new projects,” he said.