SUBANG JAYA, March 9 — Luster Industries Bhd’s unit, Pembinaan LSP Jaya Sdn Bhd (PLSP), Koperasi Hartanah Malaysia Bhd (KOHAMA) and land owner, Aznel Development Sdn Bhd will embark on a housing project in Pengkalan Hulu, Perak.
The parties signed on Wednesday the agreement to undertake the project, known as Taman Tasik 1 Malaysia, which is about two kilometres from Pengkalan Hulu town.
PLSP Director Saffie Bakar said although this was the company’s maiden project, he hoped that in the long run, it would explore further opportunities with KOHAMA to undertake more affordable housing projects in other states.
“With our recent venture into construction and development projects, we express our highest gratitude to KOHAMA for allowing us to play our corporate social responsibility role towards the good will of the public citizens, while increasing our shareholders’ value,” he said at the signing of the agreement here Wednesday.
Luster Industries’ Deputy Managing Director, Liang Wooi Gee, said Pengkalan Hulu was a viable area for the project as the state government has planned to develop it with its strategic location near to the Thailand Betong tourism area.
“Pengkalan Hulu is a town that was planned for the Pengkalan Hulu Tourism town,” he said.
KOHAMA’s Executive Chairman, Datuk Jali, said the Taman Tasik 1 Malaysia project was part of its 1Malaysia affordable housing project which involved the construction of 70,000 units of houses in various states by 2025.
Its focus, he said, was on building one-storey terrace houses which would be sold at a lower price between RM130,000 and RM160,000 instead of the market price of RM200,000.