SHAH ALAM: UMW Development Sdn Bhd (UMWD) today signed a memorandum of understanding (MoU) with Invest Selangor Bhd to leverage on the latter’s local and foreign network to attract investors to UMW High Value Manufacturing (HVM) Park in Serendah.
The MoU will serve to facilitate discussions leading to the marketing and promotion of the HVM park, and at the same time captivate more foreign direct investments into Selangor through UMWD’s land offerings.
Speaking to reporters after the signing ceremony today, UMWD president Dr Wafi Nazrin Abdul Hamid said apart from leveraging on Invest Selangor’s local and international network, the MoU will also allow the park to be recognised as a “high impact project”.
Wafi Nazrin said the park is developed by UMWD with a prime focus on HVM industry, driven by aerospace but also encompassing industries that require advanced manufacturing processes.
The park, which is next to an automotive manufacturing facility in Serendah, consists of 861 acres of land with planned supporting commercial development, mixed-use development as well as for industrial use, he added.
Additonally, UMW Aerospace Sdn Bhd’s RM750 million fan case manufacturing facility for Rolls-Royce serves as the park’s pioneer catalyst to draw in HVM ecosystem stakeholders, he said, adding that it seeks to create an ecosystem of complementary HVM activities that support each other.
“We look forward to working closely with Invest Selangor to attract potential investors to UMW HVM Park, especially those who are looking to move up the value chain by incorporating high-tech innovations and advanced manufacturing.
“The gated and guarded park will provide the potential investors with a significant address in Malaysia’s most-developed state. UMWD is going beyond the role of a traditional landowner-cum-developer as we also assist to address matters such as available incentives and human capital, among others,” he added, noting the land development will likely span 12 to 15 years.
UMWD is a wholly-owned subsidiary of UMW Group, while Invest Selangor is the investment promotion agency of the Selangor state government.
The signing of the MoU was witnessed by the Selangor Mentri Besar Amirudin Shari and Selangor State Senior Executive Councilor Datuk Teng Chang Khim.