Kulim Technology Park reviewing decision on KLSE listing

  • Business
  • Friday, 10 Jan 2003

KULIM Technology Park Corp Bhd, which manages the Kulim Hi-Tech Park, will review its decision to list the company's shares on the KLSE, originally scheduled for this year. 

Kedah state Information, Vo- luntary Bodies, Women Affairs, Energy, Telecommunications and Multimedia Committee chairman Rosnah Majid said the state government wanted Kulim Technology Park Corp to be listed in the right business climate. 

Rosnah Majid

“We felt that it was unwise to list Kulim Technology Park during this challenging period and especially when the US-Iraq standoff is still unresolved,” Rosnah told reporters after opening a seminar on Investing and Re-investing in Kulim Hi-Tech Park – Opportunities and Guidelines in Kuala Lumpur yesterday. 

Kulim Technology Park is a subsidiary of the Kedah State Deve- lopment Corp. 

Rosnah said the state government was ready to proceed with the listing exercise “any time” but stressed that it should be done at the time when the economic climate was right and investor confidence running high. 

“We do not want the shares of Kulim Technology Park to be undersubscribed,” she said, adding that the state government had intended to list the company since 2001. 

About 33 companies have invested more than RM16bil to set up operations in the technology park. 

The technology park is among the few initiatives by the state government to transform Kedah into a developed state by 2010. Kulim Technology Park group chief executive officer Ahmad Shukri Tajuddin said the corporation had initiated talks with several high-technology based MNCs to set up manufacturing, research and development activities in the park. 

He said Malaysia remained a favoured investment destination in Asia for many MNCs despite the current global economic uncertainties. 

In reading out Kedah Mentri Besar Datuk Seri Syed Razak Syed Zain's speech, Rosnah said the Kedah Maju 2010 vision targeted foreign direct investment of RM1bil into the state.  

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