Uni Wall APS Holdings Berhad through its Special Purpose Vehicle with NS Corporation, NS Aero City Sdn. Bhd.), is buying approximately 1,282 acres of land in Malaysia Vision Valley 2.0 Negeri Sembilan from NS Corporation, which is taking over the Land from Kumpulan Sime Darby Berhad, for RM445 million.
This comes from its June announcement on an RM2.5 billion proposed development of Malaysia Vision Valley 2.0 with the collaboration with Astrom Training Solutions on aerospace.
NSAC entered into a sale and purchase agreement with NS Corporation, whereby the payment of the purchase consideration is through internally generated funds, bank borrowings and/or proceeds to be raised from the Company’s fund-raising exercises. The latter also entered into a sale and purchase agreement with Kumpulan Sime Darby Berhad to purchase the Land today.
The land is said to be developed as ‘NS International Tech Park’, and will house light and medium industrial areas focusing mainly on aerospace, food, and beverage, pharmaceutical, and cosmetic industries as well as a new central business district for residential, commercial, regional office centres and medical towns.
“We spent the last year forging strategic alliances with noteworthy partners such as Astrom Training Solutions Inc. and Sun Solutino Pte. Ltd. with strengths and expertise that complement UNIWALL’s. In the meantime, NS Corporation had also entered into a Memorandum of Understanding with Turkish Aerospace Industries Inc. These partnerships will create a solid foundation which will bode well for the development of the NS International Tech Park and MVV 2.0.,” said Siow Hon Yuen, Chief Executive Officer of UNIWALL.
MVV 2.0 is an economic growth corridor initiated by the Negeri Sembilan state government, earmarked as one of 17 promoted developmental zones in the Malaysian National Physical Plan. The overall development spans across 153,411 hectares of land covering the Districts of Seremban and Port Dickson.
