KUALA LUMPUR, Sept 27 — The master developer of Pulau Indah Industrial Park (PIIP), Central Spectrum (M) Sdn Bhd (CSSB) signed a sale and purchase agreement with Transcargo Worldwide (M) Sdn Bhd for 2.19 hectares in Pulau Indah Industrial Park.
In a statement, CSSB said the recent purchase of the land was an additional investment within two years by Transcargo Worldwide. With this, a total of 4.59 hectares have been earmarked for expansion of its facilities due to PIIP’s strategic location and proximity to IKEA Regional Distribution and Supply Chain.
CSSB chief executive officer Mohamad Razif Abdul Wahab said the Covid-19 crisis has a silver lining for the logistics industry.
“It has sustained interest in the logistics industry supported by strong demand for warehouse and distribution facilities and Pulau Indah has all the offerings for this industry. Transcargo Worldwide, for example, has chosen Pulau Indah in addition to its other two locations in KL International Airport and North Port. Being a logistics partner for Alibaba at the digital free trade zone, Transcargo Worldwide is convinced that Pulau Indah is the right choice for their growth expansion,” said Mohamad Razif.
Mohamad Razif said the PIIP had met all the requirements to become an advanced distribution centre and logistic hub in Selangor.
“We have the land to build the required infrastructure, modern warehousing and other related support industries. Another advantage we have is the excellent road and railway connectivity. Soon, the Pulau Indah Ring Road will be upgraded as the government has allocated funding for Phase 3 as highlighted in the 2021 national budget,” according to Mohamad Razif.
CSSB is a member of Menteri Besar Selangor (Inc) and as a state-owned property developer, he said CSSB is optimistic that the company is able to record significant progress within the next six to 12 months.
“The progress is due to CSSB’s plan to fulfil the needs of multinational companies while continuing to support the export and domestic sectors driven by the local companies,” added Mohamad Razif.
Transcargo Worldwide director Ong Chin Kian said PIIP becomes its choice of investment due to the industrial park’s comprehensive features namely its strategic location, easy accessibility to major highways, well-equipped facilities, gated and guarded as well as quality amenities complementing the fast-growing business industries.
“Following rapid growth in our business, we plan to build a 150,000 sq ft flagship green warehouse on the 2.39 hectares. The warehouse will be designed to fit the purpose of a third-party logistic, e-commerce logistic hub and cold storage facility.
“Meanwhile for the 2.19 hectares, we plan to utilise the plot for our future warehouse and truck fleet expansion at approximately RM60 million in gross development value,” he added. — Bernama
