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Author: Tan KW   |   Latest post: Mon, 19 Nov 2018, 05:58 PM

 

Subang Aerotech Park to attract over RM1b investments in 5 years

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KUALA LUMPUR (March 13): The Subang Aerotech Park for Senior Aerospace UPECA’s built-to-suit manufacturing plant and office facility that will serve its global supply chain is anticipated to attract over RM1 billion in investments within the next five years.
 
UPECA stands for United Precision Engineering, Components and Automation which are its core solutions. 
 
“We estimate this park to attract over RM1 billion in investments, both locally and internationally, supporting over 5,000 jobs within the next five years,” said Malaysia Airports Holdings Bhd (MAHB) managing director Datuk Badlisham Ghazali in a statement today. 
 
“We are proud to be breaking new ground with Axis REIT in providing this facility. Our partnership is based on a unique built-to-suit lease back model which aims to offer customised, high grade industrial facilities to end tenants specialising in high value, high tech manufacturing and component MRO,” Badlisham said. 
 
MAHB will be looking to complete the development and management of Subang Aerotech Park based on the same business model, he added.
 
With approximately 70 aerospace companies based within the Subang aerospace ecosystem, Badlisham said the Subang Aerotech Park will further provide platform to build the Aerospace SME supply chain, creating a complete aerospace ecosystem which is in line with the government’s intention as outlined in the Malaysia Aerospace Industry Blueprint 2030, that aims to make Malaysia the number one aerospace nation in South East Asia. 
 
“We also expect that these developments will have a positive effect on the Aerospace and Aviation cluster in our KLIA Aeropolis development,” Badlisham added. 
 
This new 178,000 sq ft facility, fully equipped with state-of-the-art automation technology in aerospace manufacturing, will be developed by Axis-Real Estate Investment Trust (REIT). 
 
The new facility will sit on a 7-acre plot within the 60-acre Subang Aerotech Park as part of MAHB's initiative to revitalise the Subang aerospace ecosystem and has been subleased to Axis-REIT for a tenure of 49 years, and the construction of the facility will begin in the first half of 2018 and handed over to Senior Aerospace UPECA by year end.  
 
“The aerospace industry has been identified as one of the catalytic sub-sectors under the 11th Malaysia Plan targeted to contribute RM55.2 billion revenue, while creating 32,000 job opportunities by 2030, said Minister of International Trade and Industry (MITI) Datuk Sri Mustapa Mohamed, who officiated the ground breaking ceremony. 
 
“The efforts taken by the Government and industry have enabled the industry to take-off and soar to greater heights. MITI, through National Aerospace Industry Coordinating Office (NAICO), will continue to facilitate the growth of the aerospace industry by providing a facilitative environment and eco-system. We hope to see further development of the aerospace industry in Malaysia in years to come,” Mustapa added.
 
http://www.theedgemarkets.com/article/subang-aerotech-park-attract-over-rm1b-investments-5-years
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