A proud Malaysian icon in London

Symbol of success: An aerial view of the revived Battersea Power Station standing south of the River Thames in London. — Reuters

The success in reviving the abandoned Battersea Power Station should be the impetus for more Malaysian companies to punch above their weight.

AS the strains of Wau Bulan filled the chilly evening sky, many of the Malaysians present at the long-awaited launch of the Battersea Power Station were visibly moved.

This rousing performance from the 100-strong Battersea Community Choir was the opening gambit for the official launch of the site on Wednesday, witnessed by the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah and Raja Permaisuri Agong Tunku Hajah Azizah Aminah Maimunah Iskandariah and a host of dignitaries.

At that moment, you couldn’t help but think that the colonised had become the coloniser.

An iconic South London landmark, the Battersea Power Station, derelict and abandoned since it was decommissioned in 1983, has been transformed via a Malaysian consortium comprising Sime Darby Property Bhd and S P Setia Bhd, each holding a 40% stake, with the remaining 20% held by the Employees’ Provident Fund (EPF).

The commercial assets within the power station building are now directly owned by Permodalan Nasional Bhd and the EPF.

British-based Battersea Power Station Development Company (BPSDC) is managing the development.

Located south of the Thames, the Battersea Power Station will officially be opened to the public today. But this is only half the story.

The scale of regeneration has been amazing.

Once a coal-fired power station which supplied a fifth of London’s electricity, the building is now home to hundreds of shops, bars and restaurants.

The £9bil (RM46bil) transformation seemed impossible at first as a series of proposals to regenerate the derelict site (including a theme park, football stadium, etc) failed time and time again.

It was only when the Malaysian consortium purchased the abandoned area for £400mil (RM2bil) that development began in earnest.

That was 10 years ago. And despite huge hurdles in the form of Brexit and Covid-19, the consortium has proven the naysayers wrong.

The Battersea Power Station project now covers 17ha with 3.5 million sq ft of mixed commercial space and 4,239 new residential homes. The successful regeneration has created more than 20,000 jobs, generating long-term career opportunities for local residents.

A new underground tube station via the Northern line gives the area quick access to central London and a new National Health Service medical facility is also being built.

Five years ago, you couldn’t buy a cup of coffee in the area. Now, in a matter of months, US tech giant Apple Inc will move its entire European headquarters here, with its employees occupying 500,000 sq ft of office space.

But there’s more to come.

The mammoth project is only 60% complete. There’s 40% more to go and this should take another 10 years. Ultimately, there will be some 30% retail and food and beverage, 30% residential and 30% office space.

A well-known joke is that London is called “kampung Malaysia” due to its popularity among Malaysians – students, tourists, business people – who usually congregate in areas like Bayswater and Chinatown. These areas have popular Malaysian restaurants catering to overseas visitors who want a taste of home.

Well, add Battersea to that list now. At the heart of the renovated power station is Malaysia Square, the entrance to the mall and a meeting point inspired by the Mulu Caves in Sarawak. One popular Malaysian eatery has already opened, Roti King and a few other local favourites are expected to follow suit.

“We all are immensely proud that we have made this work in one of the most competitive markets in the world,” said Battersea Project Holding Company chairman Datuk Jagan Sabapathy, adding it took stamina and perseverance over the last 10 years to realise this development.

“It’s been a long and arduous journey, but now it’s become reality,” he added.

As I witnessed first-hand the historic launching of Battersea, I couldn’t help but feel a slight disconnect with events back home – the thought of Parliament being dissolved and wondering what could happen post-the 15th General Election.

Malaysians are now preoccupied with the imminent elections, and rightly so. But Battersea is a reflection of how Malaysia can shine on the world stage.

The King, prior to the launch, expressed pride in the capability and success of Malaysian-owned companies and government agencies running businesses and investments in the United Kingdom.

The fact that a Malaysian consortium has succeeded in reviving and regenerating such a huge project in the face of tremendous odds and despite the fact that a succession of British companies tried and failed, is testament to the capabilities of Malaysian companies.

We have what it takes. All we need to ensure is good governance, an amazing talent pool, and a genuine resolve to overcome corruption.

Battersea must be the impetus for more Malaysian companies to punch above their weight on the world stage. Its success story must not be the end but the beginning of more such iconic economic projects across the world.