KUALA LUMPUR: Paragon Globe Bhd
has inked a strategic partnership with GSP Automotive Malaysia Sdn Bhd, a subsidiary of GSP Automotive Group, for the joint development of a specialised, automotive-focused industrial cluster dubbed the "AutoPark", in Iskandar Puteri, Johor.
In a statement, the group said it is dedicating about 47 acres of its prime 109-acre Iskandar Puteri landbank to create a fully integrated automotive supply chain hub alongside GSP.
Paragon Globe executive chairman Datuk Sri Edwin Tan Pei Seng said the agreement see the group evolving from developing industrial properties into architecting complete, high-value industrial ecosystems.
"By anchoring this AutoPark with a globally recognised manufacturer like GSP, we are creating a powerful magnet for foreign direct investment, international suppliers, and tech
innovators, driving sustainable, long-term value for our shareholders," he said in a statement.
Paragon Globe will oversee the planning, coordination and delivery of the AutoPark, while pursuing GreenRE certification to ensure the infrastructure meets the stringent sustainability standards required by global supply
chains.
It will also introduce its strategic banking partner, United Overseas Bank (Malaysia) Bhd, to facilitate seamless access to project financing and operational banking solutions for GSP and its network.
Menawhile, GSP, acting as the ecosystem anchor, will leverage its global network to establish R&D centres, automated distribution hubs, and manufacturing plants within the AutoPark
"This project is expected to create employment opportunities, support talent development, and foster the growth of an automotive industry cluster in Johor.
"Looking ahead, GSP will continue to deepen its investment in Malaysia, working closely with partners and stakeholders to build a modern manufacturing base that contributes
meaningfully to regional economic growth," said GSP Automotive Group CEO Richard Zhou.
