Mah Sing’s Icon City gets Cyber-centre status

New landmark: With an estimated gross development value of RM3.2bil, Icon City is located at the intersection of Federal Highway and Damansara-Puchong Highway.

PETALING JAYA: Mah Sing Group Bhd has obtained Multimedia Super Corridor (MSC) Malaysia Cyber-centre status for its Icon City in Petaling Jaya.

Cyber-centres function to create an ecosystem that fosters a competitive environment to attract, nurture and retain information technology (IT)-enabled industries.

“I am pleased that we have successfully obtained the MSC Malaysia Cyber-centre status for our Icon City development,” Mah Sing Group managing director Tan Sri Leong Hoy Kum said in a statement.

The Cyber-centre status allows companies within Icon City to be entitled to a set of incentives, rights and privileges from the government.

These include competitive financial incentives, namely the pioneer status which is a 100% tax exemption for up to 10 years or an investment tax allowance for up to five years and duty-free importation of multimedia equipment.

MSC Malaysia status will also give companies the freedom to source capital globally for MSC Malaysia infrastructure, freedom of ownership by exempting companies from local ownership requirements, the right to borrow funds globally, the right to employ local and foreign workers, and no Internet censorship.

With an estimated gross development value of RM3.2bil, Icon City is located at the intersection of Federal Highway and Damansara-Puchong Highway.

The 20-acre mixed integrated development, situated between the established neighbourhoods of Damansara, Bandar Sunway, Kelana Jaya, Subang Jaya and Petaling Jaya, is accessible via an extensive network of highways as well as public transportation.