Chup Iftar (18/07/13/121/799) RM1.96b boost to Northern Corridor

RM1.96b boost to Northern Corridor


PRIVATE SECTOR INVESTMENT: Collaboration in four states to create 3,650 jobs

THE Northern Corridor has attracted RM1.96 billion worth of investment from its collaboration with the private sector in four states that will create 3,650 new jobs.

The corridor, also known as Koridor Utara, will see four big projects, including the development of the first mall-cum-four-star hotel in Taiping, Perak, by Unifortune Holdings Sdn

Bhd and a luxury boutique resort in Langkawi, Kedah, by Seri Chenang Resort Langkawi Sdn Bhd.

The 14-storey Taiping Mall will comprise over 220 retail shops and kiosks, eight-screen cineplexes, a 30-lane bowling centre, Taiping’s first four-star international chain Novotel hotel and Taiping Mall Convention Centre. This complex, with an investment of RM165 million up to 2014, will create additional 2,000 jobs in the area by next year.

The Seri Chenang Resort & Spa Langkawi is a boutique resort located on a 0.53ha site on Pantai Chenang, Langkawi. The RM10.17

million resort has six luxury traditional villas inspired by the grandeur of Malay heritage houses, offering a total of 13 rooms.

Yesterday, Prime Minister Datuk Seri Najib Razak witnessed the exchanging of the memorandum of agreements (MoAs) for the four

projects after chairing the 10th Northern Corridor Implementation Authority (NCIA) council meeting.

Also present to witness the exchange of the MoAs between NCIA and the four companies were Kedah Menteri Besar Datuk Mukhriz

Mahathir, Perak Menteri Besar Datuk Seri Dr Zambry Abd Kadir, Perlis Menteri Besar Azlan Man, and Penang Chief Minister Lim Guan Eng.

Seri Chenang Resort Langkawi Sdn Bhd was represented by its chief executive officer, Norlin Datuk Dr Zainal Abidin; Unifortune Holdings Sdn Bhd by its chief financial officer, Chan Yen Huei; JPB Asia Pacific by its managing director,

Mazri Mansor; and UWC Industrial Sdn Bhd by its managing director, Datuk Ng Chai Eng.

NCIA chief executive Datuk Redza Rafiq said more local players are taking interest in the business opportunities in the northern region with the conducive support eco-system that the NCIA has in place.

"Aside from encouraging the growth of local businesses and private sector involvement in Koridor Utara, these four projects aim to ensure that the local communities in the northern region will be able to benefit through the creation of additional employment.

"Putting aside the investment amount, our ultimate objective in Koridor Utara is to pursue the agenda of growth with social equity," said Redza.

To drive its development agenda, Phase II of Koridor Utara's evolution will also see the adoption of new tools and approaches to socio-economic development.

While major works are being put towards the broadening and deepening of the private sector's role in the economic development, the NCIA is seeking to implement the shared value concept, a win-win formula that refers to the innate interdependence that exists between the corporation and the community.

Source : Business Times
Date : 18 July 2013