16 firms give commitment to invest over RM984 mln in Perlis since 2014

KANGAR: Some 16 private companies from various industries have given their commitment to invest RM984.362 million in Perlis since 2014, Mentri Besar Datuk Seri Azlan Man told the State Assembly today.
He said the companies included Safuan Group Holdings Bhd with an investment of over RM365 million and TH Properties Sdn Bhd with RM311 million in mixed development projects.
"The figures varies with the total investment recorded by Mida (Malaysian Investment Development Authority) which only takes into account investments in the manufacturing sector," he said in response to a question by Mohd Shukri Ramli (PAS-Sanglang) on the amount of investment that was brought into the state.
Azlan said there was encouraging response from investors to come to Perlis and there were from various sectors including commercial development, the solar industry, real estate and renewable energy development.
On the Kangar Sentral Project in Serian, he said the project had yet to be implemented due to technical problems and financial limitations.
"The state government has reviewed the scope of work and financial plans submitted by the related company. Based on a report by the government's Technical Committee, we find that the risk the government has to bear over the land to be mortgaged to the bank is quite high," he said.
Last June 21, he said, the state government decided to review the project be reviewed to minimise the risks.
He said this in reply to Datuk Sabry Ahmad (BN-Santan) who wanted to know the progress of the project. — Bernama