IOI Properties group chief operating officer Teh Chin Guan
PUTRAJAYA: IOI Properties Group Bhd
is expected to launch the IOI Industrial Park @ Banting with a gross development value of more than RM1.5 billion in the second quarter of next year (2Q 2025), said group chief operating officer Teh Chin Guan.
He said the industrial park will be sited on 130.31 hectares (ha) and will have 53 clusters, semi-detached, bungalow factory units and land parcels for sale in its first 28.33 ha phase.
The company has an "intensive” focus on infrastructure like road and drainage systems currently as it would like to show investors something that resembles an industrial park by next year instead of raw jungle or plantation land, Teh told the media after launching its IOI Industrial Park series in Iskandar Malaysia, Banting and Melaka as the group’s major revenue pillar.
The series comprises IOI Industrial Park @ Banting in Selangor, IOI Industrial Park @ Iskandar Malaysia in Johor and upcoming plans in Melaka. It coincides with the rebranding and expansion of iSynergy @ Kulai from 205.17 ha to 445.15 ha.
Teh said the company is looking at a potential revenue contribution of at least 20 per cent per annum from its industrial portfolio over the next few years.
"Our annual revenue is around RM2 billion, so we are thinking about RM400 million annually for the next few years.
"Our Melaka industrial park will be launched in 4Q 2025. It is still in the pipeline. We have some 323.75 ha and are carving out an initial 80.94 ha,” he explained.
Teh said the Melaka Industrial Park will be slightly different compared with Johor and Selangor because the state is located at the centre between Selangor and Johor.
"It will serve as an excellent warehousing, logistics, and food and beverages central kitchen. Some businesses may need to service Selangor and Johor and Melaka is strategically at the centre.
"In a day, goods can be sent to the north and south within two hours,” he said.
The group hopes to have two more industrial parks in the next three to five years in Bahau, Negeri Sembilan and Segamat, Johor.
Malaysian Investment Development Authority domestic investment division director Sukri Abu Bakar; Invest Selangor investment development division director Nik Izuddin Nik Mohd Yusof; and Invest Johor manager (pre-investment and promotion) James Tan Wei Jie attended the event.
IOI Properties posted a 48 per cent rise in net profit to RM2.06 billion in FY2024 from RM1.37 billion a year ago. Revenue rose 13.4 per cent to RM2.94 billion from RM2.59 billion.
At lunch break today, its shares rose 2.12 per cent to RM1.93 with 451,700 shares changing hands. - Bernama
