KUALA LUMPUR, May 14 — China-based heavy equipment manufacturer Sany Group has pledged to give Industrialised Building System (IBS) training and technology transfer to local players.

In a press statement today, local housing developer LBS Bina Group Berhad said the promise was made to Housing and Local Government Minister Zuraida Kamaruddin as a result of her recent visit to China recently.

"During the visit, the minister expressed her admiration towards the size and scale of SANY as well as their advanced technology and commented that this is the basic requirement for Malaysia to achieve developed country status.

"Therefore, she hoped that SANY would be able to transfer their technology to local Malaysian companies such as LBS as well as train local Industrialised Building System (IBS) technical personnel,” said the statement.

The IBS technology is aimed at ensuring Malaysia achieves the one million units of affordable housing in 10 years as promised in the Pakatan Harapan 14th General Elections manifesto.

Sany president Tang Xiuguo voiced his confidence in Malaysia and believes that investment here is a "wise move”.

"With Malaysia’s stable political environment and the close relationship between China and Malaysia, they (Sany) hope to cooperate with local companies for the mutual development of both parties,” the statement said.

LBS managing director Tan Sri Lim Hock San added that by cooperating with the Chinese multinational, his company can utilise the best technology to develop LBS’ projects.

In 2017, a joint venture was established between LBS and SANY. Today, the IBS factory of both companies can produce up to 4,000 units of properties annually.

The possibility of the continued construction of IBS factories and provision of IBS components to other affordable housing projects in Malaysia will not be excluded.

"The mission of SANY is to empower the construction industry, and that the future development trends of this industry is intelligent manufacturing, therefore, the IBS is a major trend in the development of this industry,” said Lim.