IOI Properties group chief operating officer Teh Chin Guan.
PUTRAJAYA: IOI Properties Group Bhd
(IOIProp) is expected to launch the IOI Industrial Park@Banting with a gross development value of more than RM1.5bil in the second quarter of next year (2Q25), says group chief operating officer Teh Chin Guan.
He said the industrial park will be sited on 130.31ha and will have 53 clusters, semi-detached, bungalow factory units and land parcels for sale in its first 28.33ha phase.
The company has an “intensive” focus on infrastructure like road and drainage systems currently as it would like to show investors something that resembles an industrial park by next year instead of raw jungle or plantation land, Teh told the media after launching its IOI Industrial Park series in Iskandar Malaysia, Banting and Melaka as the group’s major revenue pillar.
The series comprises IOI Industrial Park@Banting in Selangor, IOI Industrial Park@Iskandar Malaysia in Johor and upcoming plans in Melaka. It coincides with the rebranding and expansion of iSynergy@Kulai from 205.17ha to 445.15ha.
Teh said the company is looking at a potential revenue contribution of at least 20% per annum from its industrial portfolio over the next few years.
“Our annual revenue is around RM2bil, so we are thinking about RM400mil annually for the next few years.
“Our Melaka industrial park will be launched in 4Q25. It is still in the pipeline. We have some 323.75ha and are carving out an initial 80.94ha,” he explained.
Teh said the Melaka Industrial Park will be slightly different compared with Johor and Selangor because the state is located at the centre between Selangor and Johor.
“It will serve as an excellent warehousing, logistics and food and beverages central kitchen. Some businesses may need to service Selangor and Johor and Melaka is strategically at the centre.
“In a day, goods can be sent to the north and south within two hours,” he said.
The group hopes to have two more industrial parks in the next three to five years in Bahau, Negri Sembilan and Segamat, Johor.
Malaysian Investment Development Authority domestic investment division director Sukri Abu Bakar; Invest Selangor investment development division director Nik Izuddin Nik Mohd Yusof; and Invest Johor manager (pre-investment and promotion) James Tan Wei Jie attended the event.
IOIProp posted a 48% rise in net profit to RM2.06bil in financial year 2024 (FY24) from RM1.37bil a year ago. Revenue rose 13.4% to RM2.94bil from RM2.59bil. —Bernama
