LBS Bina, Oriental Holdings ink MoU for RM7bil GDV mixed-use industrial project in Melaka
MELAKA: Property developer LBS Bina Group Bhd has signed a memorandum of understanding (MoU) with diversified conglomerate Oriental Holdings Bhd to collaborate on a mixed-use industrial development project.
In a statement, LBS Bina said that the project, which has an estimated gross development value (GDV) of over RM7 billion, is located in Klebang, here.
"Klebang was chosen due to its strategic location within the Straits of Melaka Waterfront Economic Zone (SM-WEZ), which offers high growth potential through coastal access, expanding infrastructure, and alignment with Melaka's long-term economic transformation agenda.
"The primary focus of this mixed-use industrial development is to cater to the needs of small and medium enterprises (SMEs), particularly in sectors such as oil and gas production, manufacturing, food and beverage supply chains, as well as logistics and warehousing,' said LBS Bina.
The MoU was signed between LBS Bina executive director Datuk Seri Daniel Lim and Oriental Holdings executive chairman Datuk Loh Kian Chong at a ceremony here today.
The ceremony was witnessed by Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.
"The presence of the chief minister further strengthens confidence in this project and reflects the government's strong commitment to ensuring its success as a key driver of Melaka's future prosperity,' LBS Bina said.
It emphasised that since the project is situated along the main access road, the industrial units will also have commercial value and will function as retail showroom warehouses.
This proposed development will cover an area of approximately 227 hectares and will be carried out in four phases.
Specific details regarding the location and land area breakdown are to be finalised through definitive agreements to be mutually agreed upon by all involved parties.
Currently, Melaka ranks sixth among Malaysian states in terms of industrial real estate transactions. The transactions of vacant land and semi-detached properties have seen double-digit growth, driven by high demand from investors and the consumer market for self-use.
Additionally, the West Coast Expressway (WCE), which is currently in the planning stage, will connect Banting, Selangor, to Gelang Patah, Johor.
This route is expected to serve as an alternative to the North-South Expressway and is projected to alleviate existing traffic congestion.
Once the WCE alignment is finalised, it will serve as a catalyst for the development of coastal areas nearby, such as Klang, Port Dickson, Melaka, Muar, and Batu Pahat, thereby generating a positive economic impact. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
25 minutes ago
- The Star
A new way to experience dining
Indulge in a curated selection of savoury delights and sweet treats at Terrace @ Boulevard, where every bite is an experience. PETALING JAYA: Terrace @ Boulevard, a three-storey culinary destination spanning 30,000 sq ft, has officially opened its doors at Sunway Pyramid, offering a fresh dining experience. Just a few steps away from the iconic Lion Head is the vibrant F&B hub, formerly known as the Blue Cube. Located on the Ground Floor, right next to the New Pantai Expressway (NPE), it's easily accessible for everyone seeking their next great meal, a memorable hangout spot, or even Instagram-worthy moments at the Lion Head landmark. Terrace @ Boulevard brings a curated selection of unique eateries and cafes, offering everything from savoury delights to tempting sweet treats. 'We are incredibly excited to introduce Terrace @ Boulevard — a landmark addition that elevates the dining landscape at Sunway Pyramid,' said Sunway Malls senior general manager Jason Chin. 'Dining today is not just about food; it's about experience and lifestyle. With the iconic Lion Head as a stunning backdrop, this new zone offers a truly unique ambience that redefines what it means to dine out.' Chin added: 'Terrace @ Boulevard also significantly strengthens our F&B portfolio, which now features over 200 diverse dining options. 'From cosy cafes ideal for casual meetups to authentic international kitchens that offer a true culinary journey, this curated mix positions Sunway Pyramid as an immersive food destination.' Terrace houses the two-storey Seminyak by Warung Eropa outlet, boasting a modern, casual dining concept with a strong Balinese influence in both restaurant design and authentic menu. Now at Sunway Pyramid, the iconic Aftermeal Desserts is set to become your go-to for refreshing sweet treats. Come True Cafe at Terrace offers a world of modern Taiwanese-inspired fusion cuisine that's Muslim-friendly. Need a setting and food offerings that are perfect for family gatherings? Coming soon to Terrace, Muslim-friendly restaurant Cili Kampung, hailing from Langkawi, Kedah, brings authentic local kampung dishes that truly embody the essence of Malaysian flavours. Known as a glasshouse-style cafe with a menu that incorporates staple flavours from the East and West, Pokok KL, perched on the third floor of Terrace, offers a unique dining experience, with a stunning, unobstructed view of the iconic Lion Head as you tuck into satisfying meals and soak in the beautiful, Instagrammable aesthetic. Sunway Pyramid has also rebranded the Oasis Boulevard area as Boulevard, housing 19 existing F&B outlets to form a dedicated and cohesive dining hub. Centralising Sunway Pyramid's extensive dining options, Boulevard allows for easy navigation and discovery of an even wider array of culinary choices, ranging from beloved Asian eateries to Western favourites. 'The unveiling of this vibrant new zone — along with the rebranding of Oasis Boulevard to the Boulevard — is part of our ongoing commitment to delivering exceptional, multi-sensory experiences for our visitors.' Dine, spin and win From now until Aug 31, visitors should not miss out on the chance to win a year's worth of free meals. To participate, spend a minimum of RM150 within two receipts at any F&B outlet in Sunway Pyramid. You will then earn one spin to win shopping vouchers or Sunway Super App vouchers, as well as an automatic entry to stand a chance to win a year's worth of meals. Feel free to submit as many entries as you can to score free meals for the entire year – the more you submit, the higher your chances of winning. Simply visit the Sunway Super App counter on the first floor to redeem your rewards. With Terrace @ Boulevard joining Sunway Pyramid's extensive and vibrant retail landscape, the ultimate shopping mall destination for gastronomic delights and diverse lifestyle experiences just got bigger and better. For more information and exciting updates, visit Sunway Pyramid's website or social media (@sunway_pyramid).
New Straits Times
25 minutes ago
- New Straits Times
Bank Negara revises Malaysia's 2025 GDP growth forecast to 4.0-4.8pct
KUALA LUMPUR: Bank Negara Malaysia has revised its 2025 growth forecast to 4.0 per cent to 4.8 per cent, down from its earlier projection of 4.5 per cent to 5.5 per cent, in response to evolving global economic conditions. The central bank said the updated gross domestic product outlook takes into account a range of tariff scenarios, from the continued escalation of trade barriers to more favourable outcomes from ongoing trade negotiations. The forecast remains subject to uncertainties surrounding the global economy, both on the downside and upside, it said in a statement today. Bank Negara said favourable trade negotiation outcomes, pro-growth policies in major economies, continued demand for electrical and electronic goods, and robust tourism activity could raise Malaysia's export and growth prospects. It said the global growth outlook is affected by shifting trade policies and uncertainties surrounding tariff developments, as well as geopolitical tensions. "As a small open economy, Malaysia's growth prospects will be shaped by these developments. It is to Malaysia's advantage that our economy is facing these external headwinds from a position of strength." The central bank added that the latest indicators, including advanced estimates for the second quarter growth, continue to point towards sustained strength in economic activity. It said domestic demand has been resilient and will continue to support growth going forward. Favourable labour market conditions, particularly in domestic-oriented sectors and policy measures will continue to drive private consumption. "Meanwhile, expansion in investment activity will be sustained by progress in multi-year infrastructure projects, continued high realisation of approved investments and catalytic initiatives under the national development plans," Bank Negara said. Bank Negara governor Datuk Seri Abdul Rasheed Ghaffour said the Malaysian economy remains resilient despite global uncertainties, supported in part by structural reforms implemented over the years. "The sustained strength in economic activity and moderate inflation provides a supportive environment to pursue structural reforms for a more resilient and competitive Malaysia in the future," he added. Bank Negara said headline inflation is projected to remain moderate, averaging between 1.5 per cent and 2.3 per cent in 2025, lower than the earlier forecast of 2.0 per cent to 3.5 per cent. The central bank said the updated projection reflects the more moderate cost and demand outlook since March 2025. "Inflationary pressure from global commodity prices is expected to remain limited, contributing to moderate domestic cost conditions. In this environment, the impact of domestic policy measures is expected to remain contained," it said.
Malay Mail
25 minutes ago
- Malay Mail
Bank Negara trims 2025 GDP forecast to 4.0–4.8pc amid global uncertainties
KUALA LUMPUR, July 28 — Bank Negara Malaysia (BNM) has revised Malaysia's 2025 gross domestic product (GDP) growth projection to between 4.0 per cent and 4.8 per cent from 4.5 per cent - 5.5 per cent previously. The projection takes into account various tariff scenarios, ranging from continued elevation of tariffs to more favourable trade negotiation outcomes. In a statement today, the central bank said the forecast remains subject to uncertainties surrounding the global economy, both on the downside and the upside. 'Favourable trade negotiation outcomes, pro-growth policies in major economies, continued demand for electrical and electronic goods, and robust tourism activity could raise Malaysia's export and growth prospects,' it said. Meanwhile, BNM Governor Datuk Seri Abdul Rasheed Ghaffour said the Malaysian economy remains resilient despite global uncertainties, supported by the outcome of structural reforms undertaken over the years. 'The sustained strength in economic activity and moderate inflation provides a supportive environment to pursue structural reforms for a more resilient and competitive Malaysia in the future,' he said. — Bernama
