MUAR – DRB-Hicom Bhd and Malakoff Corporation Bhd have expressed their interest to invest in the Pagoh Special Economic Zone that was officially launched here today.
Announcing this, Prime Minister Tan Sri Muhyiddin Yassin said DRB-Hicom, through subsidiary Proton Holdings Bhd, planned to build an automotive-related component manufacturing plant similar to the one in Tanjung Malim, Perak.
“(These investments) involve two large companies...I have directly contacted Tan Sri Syed Mokhtar Al-Bukhary, the biggest shareholder in both companies (DRB-Hicom and Malakoff), and received confirmation of what I announced just now (during his speech at the launch) with regard to his interest to come here,” he told a media conference after launching the first phase of the Pagoh Special Economic Zone at Sime Darby’s sales gallery here.
As for Malakoff, he said one of the group’s subsidiaries aimed to build a plant to produce solar panels for solar power generation.
”This will also involve a large investment and a lot of employees, and I very much welcome the investments. I hope it can be carried out in this first phase,” said Muhyiddin, who is also Pagoh MP.
Earlier, in his speech, Muhyiddin, who is also Gambir Assemblyman, said the government had so far attracted investment commitments worth more than RM200 million for the first phase of development for the Pagoh Special Economic Zone.
He said the maiden phase, with an estimated gross development value of RM1.1 billion, would span five to seven years and include a 174ha industrial area and a 170ha entrepreneurship hub.
Muhyiddin also said the government had approved applications under the special incentive package for the economic zone which offered five-year exemptions for income tax, as well as for stamp duty and sales tax for companies undertaking targeted key activities.
In addition, he said, the government would extend incentives to companies which could bring in high-value activities through the special incentive package.
“They include industries involved in wood-based and furniture products, textile products, manufacture of food and beverages, automotive engineering products, electrical and electronics products, as well as green technology and agriculture-based products,” he said. – Bernama, March 27, 2021
