KUALA LUMPUR: Teladan Group Bhd
's wholly-owned subsidiary, Riverwell Resources Sdn Bhd, has inked a strategic cooperation agreement with Melaka's state development agency, Melaka Corp (MCorp), to jointly promote and drive the sale of industrial land in the German Technology Park in Jasin.
Riverwell, as the landowner and developer of two leasehold lots in the industrial park measuring a combined 49.29ha, will manage the development process and bear all related costs to ensure the timely delivery and market-readiness of the land.
The first phase of the development is scheduled for completion within three years.
Meanwhile, MCorp has been appointed the exclusive partner to promote and market 22 selected vacant industrial land parcels.
The state government development agency will also lead in investor outreach, marketing initiatives and engagement with potential buyers, while also supporting Riverwell in coordinating with relevant authorities where needed.
According to Teladan's statement, the 418.63-acre German Technology Park is designed to attract German investments as well as suppliers that form part of Germany’s broader industrial supply chain into Melaka and strengthen economic ties between Malaysia and Germany.
"This strategic collaboration reflects our shared commitment to developing a well-planned industrial ecosystem that can attract quality investments into Melaka.
"With MCorp’s support in investor engagement and promotion, we are well-positioned for the project to gain strong traction and contribute positively to the state’s industrial growth,” said Teladan group managing director Richard Teo Lay Ban.
