17 August, SHAH ALAM – NCT Group of Companies (NCT Group) and Future Inno Park Sdn Bhd (Future Inno Park) has signed a Memorandum of Understanding (MoU) pertaining to NCT Group’s Kuala Langat Industrial Hub development project. The MoU signing took place at Bilik Gerakan MTES, Bangunan Sultan Salahuddin Abdul Aziz Shah (SSAAS) Shah Alam with the presence of NCT Group Founder, Dato’ Sri Yap Ngan Choy and Dato’ Jeffrey Ng Chin Heng, Director of Future Inno Park and an active Chinese business leader. The event was witnessed by YB Dato’ Teng Chang Khim, ADUN Bandar Baru Klang and Selangor State Senior Executive Councillor (EXCO) for Investment, Industry, Commerce and SME as well as Dato’ Joe Yap Fook Choy, Co-Founder of NCT Group.
The MoU signing is in conjunction with NCT Group’s Kuala Langat Industrial Hub development project in Kuala Langat, Selangor. The project is deemed to be the industrial hub of choice for the electrical and electronic (E&E) industry. Commenting on the development, Dato’ Sri Yap Ngan Choy says “The Kuala Langat Industrial Hub 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 active leader in the Chinese business community including committee member of The Federation of Chinese Associations Malaysia (Hua Zong) and Chairman of Public Committee of the Malaysia-China Chamber of Commerce (MCCC), Dato’ Jeffrey Ng Chin Heng is also the chairman of a few public listed companies such as LBI Capital Berhad and Anakku. He has built a vast network of business in China for the last 20 years including Suzhou, Nanjing, Guangdong and Fujian, and is closely linked to some of The Belt and Road Initiative (BRI) unveiled by President Xi Jinping since 2013.
Dato’ Jeffrey Ng Chin Heng will be working in bringing in international buyers 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 shared.
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 dedicated in advocating foreign E&E investments by shaping the country as an ideally competent investment climate. On the heels of liberalisation of services sub-sectors since 2009, the government introduces a vast range of incentives and initiatives such as special investment capital allowances and a variety of tax deductions; comprehensive facilities and advanced technologies that entice the foreign investors.
The Kuala Langat Industrial Hub is located at the border shares between the Kuala Langat and Sepang district. The strategic location is approximately 15 kilometres away from KLIA 1 and KLIA 2. The signing of the Memorandum of Understanding between NCT Group and Future Inno Park is expected to propel Selangor further as a valuable investment destination.