ECER announces 12 new investments worth RM10.08 bln

Source: 12/16/2013 — The Edge

PUTRAJAYA (Dec 16): The East Coast Economic Region (ECER) today announced new committed investments in the region amounting to RM10.08 billion by 12 investors, including three recipients of the Teraju Facilitation Fund for Bumiputera Entrepreneurs.

These comprised four investments worth RM5.61 billion in Pahang, five investments in Kelantan worth RM2.96 billion and three investments in Terengganu worth RM1.51 billion.

With these new investments, the amount of investments attracted by theregion in 2013 alone stood at RM28.46 billion.

Prime Minister Datuk Seri Najib Tun Razak witnessed the exchange of the investment commitments in ECER by the investors at a special ceremony here today.

Also present were Pahang Menteri Besar Datuk Seri Adnan Yaakob, Terengganu Menteri Besar Datuk Seri Ahmad Said, Kelantan Menteri Besar Datuk Ahmad Yakob, Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin and East Coast Economic Region Development Council (ECERDC) Chief Executive Officer Datuk Jebasingam Issace John.

According to a press statement, the total investments in ECER recorded since 2007 to date amounted to RM55.80 billion, which already surpassed the halfway mark of ECER’s RM110 billion investment target by 2020.

The RM55.80 billion investments are expected to create 55,000 job opportunities for the rakyat.

The new investors are Genting Bhd in integrated tourism and theme park in Genting Highlands (RM5 billion ); Farm Resort (Gambang) Sdn Bhd – four-star hotel based on agro and ecotourism concept in Gambang, Pahang (RM68.2 million); Boustead Hotels & Resorts Sdn Bhd – five-star hotel in Cherating, Pahang (RM200 million; Beta Assets Sdn Bhd – mixed development project at Kuala Terengganu.

City Centre (RM1.5 billion); Admal Aviation Sdn Bhd – maintenence, repair and overhaul of planes in Kuala Terengganu (RM280 million); and Biz Markz Cement Industries Sdn Bhd – integrated cement manufacturing plant in Gua Musang, Kelantan (RM1.2 billion).

The others are ASN Cement – integrated cement manufacturing plant in Gua Musang, Kelantan (RM1.2 billion); Syarikat Usahasama Seri Cemerlang – five-star hotel and suites (RM300 million); Ilmu Dab Hikmah Sdn Bhd – private university college in Bachok and Kota Baharu, Kelantan (RM250 million); Kidz Fun Manufacturing & Marketing Sdn Bhd – manufacturing of educational toys in Kuantan, Pahang (RM37.08 million); Synergy Generated Sdn Bhd – solar panel production in Setiu, Terengganu (RM36 million); and AUEI Teras Holdings Sdn Bhd – condominium development for university students hostel facilities in Kota Baharu, Kelantan (RM6.67 million). — BERNAMA