Dato’ Sri Yap Ngan Choy and Dato’ Jeffrey Ng Chin Heng presents YB Dato’ Teng Chang Khim with a token of appreciation for gracing the MoU event. Image from: NCT Group.
NCT Group of Companies (NCT Group) and Future Inno Park Sdn Bhd (Future Inno Park) have signed a Memorandum of Understanding (MoU) on the Kuala Langat Industrial Hub growth project of NCT Group. The signing of the MoU took place at Bilik Gerakan MTES, Bangunan Sultan Salahuddin Abdul Aziz Shah (SSAAS) Shah Alam with the participation of the Founder of NCT Group, Dato' Sri Yap Ngan Choy and Dato' Jeffrey Ng Chin Heng, Director of Future Inno Park and an active Chinese business leader. Also present at the event were YB Dato's Teng Chang Khim, ADUN Bandar Baru Klang and Selangor State Senior Executive Councillor (EXCO) for Trade, Industry, Commerce and SME as well as Dato' Joe Yap Fook Choy, NCT Group's co-founder.
The signing of the MoU is in relation to the Kuala Langat Industrial Hub development project of NCT Group in Kuala Langat, Selangor. The project is considered the industrial hub of choice for the electrical and electronic (E&E) sector. Making a comment on the development, Dato's Sri Yap Ngan Choy states "Industrial Hub Kuala Langat is poised to take business capabilities to new heights. We are anticipating interest from a lot of big industry players and investors. The MoU today will pave the way to introduce the project to foreign investors in the international market.”
An influential figure in the Chinese business community, including committee member of Malaysia’s Federation of Chinese Associations (Hua Zong) and chairman of the Malaysia-China Chamber of Commerce (MCCC) Public Committee, Dato' Jeffrey Ng Chin Heng is also chairman of a number of publicly listed firms, including LBI Capital Berhad and Anakku. For the last 20 years, he has built a vast network of businesses in China, including Suzhou, Nanjing, Guangdong and Fujian, and is closely linked to some of The Belt and Road Initiative (BRI) that President Xi Jinping has unveiled since 2013.
Dato Jeffrey Ng Chin Heng will focus on bringing in international purchasers to invest in the project. “Many foreign E&E firms are looking to relocate their businesses to Malaysia to diversify production. The Ministry of International Trade and Industry (MITI) reported in June 2020 that it had a pipeline of investment projects worth about US$13 billion. The Kuala Langat Industrial Hub is the perfect investment location to feed the demand of these investors. We are excited to collaborate with NCT Group in this matter,” he said.
Endorsing the Kuala Langat Industrial Hub, YB Dato’ Teng Chang Khim commented, “The Selangor government welcomes a development such as this as it contributes positively to the economy and earnings of the state. Selangor has long been known as the main investment location in Malaysia and is the perfect gateway to the ASEAN market. We are ready to supply a strong E&E base, good supporting local engineering supporting cluster and talent to fulfil all investment needs."
To note, Malaysia has always been committed to promoting international E&E investments by shaping the country as an ideally competent investment environment. Amid the liberalization of service sub-sectors since 2009, the government has implemented a broad range of incentives and initiatives, including special investment capital allowances and numerous tax deductions; extensive facilities and advanced technologies that attract foreign investors.
The Kuala Langat Industrial Hub lies at the border of the district of Kuala Langat and Sepang. The strategic location is about 15 kilometers from KLIA 1 and KLIA 2. The signing of the Memorandum of Understanding between NCT Group and Future Inno Park is expected to further propel Selangor as a desirable place to invest.
(18 August 2020)