SINGAPORE, Aug 2 ― The Pahang state government today signed 11 memoranda of understanding (MoUs) with Singaporean investors and international companies that agreed to invest RM1.134 billion in the state.
“The total amount of the investments is larger than the state government’s annual budget which only amounted to RM700 million,” Mentri Besar Datuk Seri Wan Rosdy Wan Ismail told Bernama after witnessing the MoUs signing ceremony.
State secretary Datuk Seri Dr Sallehuddin Ishak signed the MoUs on behalf of the state government.
Wan Rosdy who is leading the state’s second trade mission to the republic with the first one was in May this year, said the 11 investments would be in the forms of direct investments and joint-ventures.
Commenting further, he described the second trade mission was “very successful”.
The trade mission was in conjunction with Pahang Investments Forum 2019 which saw the participation of 83 Singaporean companies and 23 Singapore-based multinational firms.
According to the menteri besar, the focus given on Singapore was due to demand from the investors in the republic who wanted to invest in the largest state in Peninsular Malaysia.
Asked if there were special incentives for the investors from Singapore, Wan Rosdy said it was “something that could be considered.”
He added that the total gross development value for the 11 investments was amounting to RM2.372 billion.
Wan Rosdy said Hercules Technologies Sdn Bhd was the largest investor with an investment commitment of RM450 million in three proposed projects at the Gebeng Industrial Area in Kuantan.
One of the projects was a proposed development of a concrete and cement products supply centre for the East Coast Rail Link project in the east coast region which also involved Terengganu and Kelantan, he said.
In his keynote address at the forum yesterday, Wan Rosdy said the state government was planning to allocate 485.62 hectares of land to develop Pahang-Singapore Industrial Park.
The proposed site was located at the main area in Jalan Kuantan-Pekan, near the campus of Universiti Malaysia Pahang, he said. ― Bernama
