From left: Marq international CEO Steven Wei, PNB head of strategy Amir Fikrie, Invest Selangor’s Nik Izzudin, Selangor state exco Ng Sze Han, AREA Group executive chairman Datuk Stewart LaBrooy, Shenzen Government Procurement Association president Feng Qiang, Kedah exco Professor Dr Haim Hilman, Northern Gateway Sdn Bhd’s Razwin Sulairee, Invest Kedah COO Noor Ikhsan and Mida Guangzhou’s Safwan Johari.
KUALA LUMPUR (April 11): AREA Group, via its subsidiary AREA Real Estate Advisory Sdn Bhd, has signed a heads of agreement and memorandum of understanding (MOU) with the Shenzhen Government Procurement Association in Shenzhen, China to promote the “Two Countries, Twin Parks” initiative, a cross-border industrial project valued at US$20 billion (RM94.9 billion).
According to a press release on Friday, the Twin Parks initiative involves two Malaysian sites — Pentas Industrial City @ Delapan SBEZ in Kedah and COMPASS @ Kuala Sri Langat in Selangor — as anchors for strategic investment and industrial collaboration with Shenzhen enterprises.
Northern Gateway Sdn Bhd, a Ministry of Finance subsidiary, is the master developer of Delapan Special Border Economic Zone (Delapan SBEZ), with AREA serving in an advisory capacity.
The COMPASS @ KSL site is a joint venture between Permodalan Nasional Bhd (via MIDF Property Bhd), KWEST Sdn Bhd (a KWAP subsidiary) and AREA Group (via AREA Industrial Development), with AREA acting as investment manager.
“This MOU, with its bold vision of US$20 billion in strategic investments, is not just a document, it is a testament to the unwavering friendship and shared ambition between our nations,” said AREA Group executive chairman Datuk Stewart LaBrooy.
He added that the partnership is aligned with Malaysia’s Industri Madani and the New Industrial Master Plan 2030, and aims to position Malaysia as a strategic gateway to China’s supply chain.
The flagship project is founded on five cooperation pillars: job creation, technology transfer, investment promotion, industrial collaboration, and economic growth. It targets the realisation of US$20 billion in investments from Shenzhen and the Greater Bay Area by 2027.
The Malaysian delegation included senior representatives from PNB, Invest Kedah Bhd, Invest Selangor Bhd, Jabatan Kemajuan Islam Malaysia, Mida (Guangzhou Office), Northern Gateway, Promas, Malaysia Shenzhen Chamber of Commerce, and state government officials including Ng Sze Han and Professor Dr Haim Hilman.