AMALGAMATED Industrial Steel Berhad has officially changed its corporate name to Parkwood Holdings Berhad effective Feb 18,2021.
The rebranding essentially provides Parkwood with a new corporate identity to reflect its principal business, allowing it to position itself as an innovative player in the property industry.
The rebranding, which is part of Parkwood’s strategy, marks the shift from its steel business to the property sector and simultaneously create a solid base for new opportunities in the industry.
“Last year marked a major milestone for us as we finally divested our steel trading operations to fully focus on our core business in the property sector, ” said Parkwood executive director Lim Chin Sean.
“The change of name from Amalgamated Industrial Steel Berhad to Parkwood Holdings Berhad is to align with our shift in our business directions. With the rebranding exercise, I am indeed very excited as we continue to strategise our plans for our future directions of the company in the property industry.”
Lim said he is humbled to have a team of capable and experienced management personnel who shares the same passion and dedication in bringing the business forward by expanding Parkwood’s presence in the property business.
Parkwood strives to deliver products and services of superior quality that promote aspirational and sustainable communities. he added.
Parkwood’s property projects include the residential development Utamara Boutique Residences located at Kayu Ara next to Bandar Utama in Selangor, offering 82 low-rise residential units, and the premier industrial development Avant Industrial Park situated on 4.65ha prime industrial land in Section 15, Shah Alam, with a built-up area of 150,000sqft.
Another mixed development project in the pipeline is Parkwood Damai in the Klang Valley, which is strategically located in the prime Damansara Damai area near the under-construction Damansara Damai MRT station is easily accessible to the North-South Expressway, Damansara-Puchong Expressway (LDP) and Duta-Ulu Kelang Expressway.
Scheduled to be launched in 2022, Parkwood Damai comes with retail lots on the ground floor and two blocks of serviced apartments on the top floor. The project is being developed on a 1,4ha leasehold commercial land parcel which was acquired in end 2019.
Parkwood, formerly AISB, was principally involved in the trading of steel related products, property development and property investment.
In 2015, AISB divested the manufacturing operations to focus on property-related activities and trading of steel-related products to improve the income stream and ensure long-term business sustainability to reduce its exposure to market volatility.
Moving to 2020, AISB divested its steel trading operations to solely focus on the property sector. With the divestment, the Group’s listing on Bursa was re-classified from the “Industrial Products and Services” to “Property” sector on Oct 12,2020.
AISB officially changed its name to Parkwood Holdings Berhad after having secured shareholders’ approval for the change on Jan 26,2021.
For more information about Parkwood Holdings Berhad, go to parkwood.my.