Melaka Corp CEO Datuk Mohd Yusof Abu Bakar (seated, fourth from left) and Teladan managing director Richard Teo Lay Ban (seated, second from left) at the signing of the agreement in the presence of Chief Minister of Melaka Datuk Seri Ab Rauf Yusoh (standing, centre), Melaka State Secretary Datuk Wira Zaidi Johari (standing, left), and Ambassador of the Federal Republic of Germany Peter Blomeyer (standing, right)
KUALA LUMPUR: Teladan Group Bhd
via its wholly-owned subsidiary Riverwell Resources Sdn Bhd has inked a memorandum of understanding with Melaka state-owned Melaka Corp to develop a 341.2-acre German Technology Park at Ayer Panas in Jasin, Melaka.
In a statement, the property developer said the proposed project aims to attract German investment into the state of Melaka and strengthen Malaysia-Germany economic ties.
It will encompass various industrial developments, including industrial bungalow lots, semi-detached factories, shop offices, and centralised labour quarters.
Chief Minister of Melaka Datuk Seri Utama Ab Rauf Yusof, who attended the signing ceremony, said the collaboration strengthens Malaysia's position as a preferred investment destination within Asean and deepens economic ties with Germany.
"The proposed project represents a significant step towards advancing international trade activities, creating job opportunities, and broadening the country’s market access. At Melaka Corp, we are committed to supporting Malaysia's economic growth and development."
Said Teladan managing director Rchard Teo Lay Ban: "With a proven track record of developing over RM2.9bil in combined gross development value (GDV) across residential, commercial, and industrial projects, we are confident in our contribution to this Proposed Project’s success.”
As of Dec 31, 2023, the group held 1,071.5 acres of undeveloped landbank, with its Melaka portion holding a potential GDV of RM2.7bil.
