GTIP to relocate South Korean SMIs in Lumut

  • Business
  • Thursday, 16 Jan 2003

BY KULDEEP S. JESSY in Pantai Remis

A TOTAL of South Korean small- and medium-scale industries (SMIs), with a combined investment of RM125.4mil, are relocating in Lumut this year under a SMI relocation programme promoted and facilitated by Global Technology Industrial Park (GTIP) Sdn Bhd. 

Representatives of the first batch of seven companies recently signed a memorandum of understanding (MoU) with GTIP in Pantai Remis, witnessed by Housing and Local Government Minister Datuk M. Kayveas. 

The SMIs, mainly involved in manufacturing components, are each expected to spend RM5.2mil to purchase land for their factories. 

Under the programme, GTIP would be responsible to organise and facilitate support services and vendors such as business advisory, information technology (IT) management services, logistics and market services, technical and engineering services, and human resources management services for the SMIs once they have set up their factories. 

GTIP chief executive officer Arifen Kendut said the first seven companies to be relocated were dealing with the manufacturing of gypsum boards, technology development, and plant engineering, steel production, factory automation system, computer and electrical system, conveyor system and water treatment and purification.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Slack’s CEO is back in the passenger seat after Salesforce deal
Natural gas to contribute RM400mil to public finances over next decade
SCIB units secure EPCC contracts worth RM271mil
Flipkart’s digital payments firm PhonePe to raise US$700mil from existing investors
Astro posts RM164.5mil profit in Q3�
Bursa rallies with over 900 counters in positive zone
More US-listed Chinese firms seen seeking backup listings
Cagamas prices RM2bil debt notes 30-45 bps above MGS, MGII
Corporate Singapore faces crunch time in rare clash with activist funds
Grab 'in a position to acquire' after Gojek merger report

Stories You'll Enjoy