Infra work at Malaysia Vision Valley started: Sime Darby

27 Feb 2018 / 12:46 H.

    KUALA LUMPUR: Sime Darby Property Bhd, which is targeting for RM2 billion sales in FY18, said infrastructure work has commenced for the RM290 billion Malaysia Vision Valley (MVV) project in Negri Sembilan, after the memorandum of understanding for the project was signed about 10 months ago.
    "There is development here, work has started for the new Nilai-Labu-Enstek expressway project undertaken by the federal and state governments, there is also significant progress for the Senawang-KLIA expressway," its managing director Datuk Seri Amrin Awaluddin told a media briefing today on the group's financial performance.
    He stressed that any development has to have proper infrastructure and connectivity before it can attract investors to come.
    "When that is in place, then you can bring in investors... hopefully this year and next year, you'll be seeing a lot of activities here (MVV)," he added.
    Spanning across 153,000ha of land, the MVV will be jointly developed by Sime Darby Property, Kumpulan Wang Persaraan (Diperbadankan) (KWAP) and Brunsfield Development Sdn Bhd. 
    Yesterday, Sime Darby Property reported a 5.1% drop in net profit to RM138 million for the second quarter ended Dec 31, 2017, from RM145.4 million in the previous corresponding period on higher taxation.
    Amrin remains optimistic on the group's outlook, supported by its ongoing and new launches and asset monetisation activities.

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