A Boon To Incentivising Investors — MGB Launches Kertih Terengganu Industrial Park (KTIP) Project

Kertih Terengganu Industrial Park (KTIP) Is A Newly-Launched Land Development Project Consisting Of 1,007 Acre (407.5 Ha) Industrial Estate In The East Coast Region Under The Development Of MGB Bhd, A Construction And Property Development Solutions Provider And A Subsidiary Of LBS Bina Group Bhd. Malaysian Generations Builder (MGB) Group Is An Established Construction Player With A Strong Track Record Of 10 Years For Shaping The Nation, From Design And Build To General Construction For Residential, Commercial And Industrial Buildings As Well As Infrastructure Works. To Date, MGB Has Successfully Completed More Than 15,000 Units Of Properties, Particularly In Affordable Homes Segment. As a nation-builder, MGB’s wide array of services and expertise include design and build, project management, civil engineering, value engineering, geotechnical specialisation and manufacturing through Industrialised Building System (IBS) Precast Concrete. Equipped with a highly experienced Management Team together with the understanding and adoption of technology and new approaches, MGB as the industry’s solutions provider undertakes the proprietary VaDTech Solutions approach in all their projects as the Value-driven solutions with the aim to provide optimal solution for each development challenge and need.

Why Invest in KTIP?

The KTIP land development project is a heavy-industrial area and a work of collaboration among MGB, Terengganu Inc., TI Properties Sdn. Bhd. and Retro Court Sdn. Bhd. Located on a heavy industrial land with a 99-year leasehold land tenure, KTIP is strategically located within a fully integrated bio-economy hub for bio-polymer and bio-based chemical products in Kertih, Terengganu. KTIP is also strategically connected with ready infrastructures and facilities such as gas processing plants, oil refineries and ports (Kemaman Port and Kertih Port) in the East Coast Economic Region’s (ECER) special economic zone, giving it an extra edge to remain connected domestically and internationally. The highly integrated road connectivity provides a cost-effective means of transportation of bulk goods and greater accessibility whereby the East Coast region is linked to Port Klang in the West Coast via the East Coast Rail Link (ECRL). To further encourage the development of KTIP, the Government has offered generous tax incentives to investors. Moreover, the Terengganu State Government will create a “fast track” committee to assist investors with approval requests of building plan. The committee will monitor all applications as well as provide   assistance as required to ensure projects are executed on time, hence taking the burden off the investor’s shoulders. Investors in ECER will be able to leverage on Malaysia’s existing and new free trade agreements, such as the ASEAN Free Trade Area, ASEAN-China FTA, ASEAN-Korea FTA, ASEAN-Australia-New Zealand FTA and more. Investors also have access to Malaysia’s multilateral initiatives such as the Joint Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) and China’s Belt and Road Initiative. Not only that, Malaysia also has strong bilateral trade relationships with Japan, Chile, India and Turkey among others.

For investors who are looking to reach out to Asia-Pacific, Europe, America and the Far East markets, KTIP is an ideal geolocation, where it is readily connected by land, air and sea. The direct access to seaports provides accessibility to logistics and transportation of goods and raw materials.

Distance from KTIP to Existing and Future Infrastructures:

On top of that, the vast acreage of the area gives investors and manufacturers the flexibility to construct their factories and plant designs with the possibility of expansion of the facilities and capacity in the future. KTIP offers investors the opportunity to tailor and customise the size of land to take up according to their preferences, which greatly reduces the possibility of land wastage. The savings through incentives for new investors provided by the Government can be used to offset any cost incurred during the plant setup to be repurposed in other areas of the business, such as R&D and business expansion. The land and labour cost to set up a plant in KTIP is also very competitive, and proves to be more affordable to be based in the East Coast Region compared to the counterparts in the West Coast.

The state government assures a highly-skilled workforce by equipping the pool of multilingual talent and workers in the location with training by the Asia Center of Excellence of Smart Technologies (ACES) through Industry 4.0 programmes. Pooling for talents can be challenging and time-consuming especially for newly-setup industrial plants, but with the ready pool of talents in KTIP, investors can be rest-assured that looking for a workforce here is more convenient and easily manageable. KTIP calls for local and foreign investors who are considering these areas of potential development opportunities; Steel & Non-ferrous Metals Industry, Clean Technology & Renewable Energy, Petrochemical Industry, Research & Development, Electrical & Electronic Energy and Machinery & Equipment Manufacturing.

The setup of a new industrial plant requires many areas of consideration such as location, cost, accessibilities, skills and talents, and future potential growth opportunities, among others. KTIP’s ideal location, features and potential development opportunities makes it an attractive base for a new plant, and furthermore, with the tax incentives offered by the Government, business owners can enjoy cost-saving which can be utilised for other areas of the business.

For investors who are interested in setting up your industrial plants in Kertih Terengganu Industrial Park (KTIP), do visit https://ktipmalaysia.com/ for more information.