Central Spectrum sells Pulau Indah Industrial Park (PIIP) to Transcargo Worldwide for e-Commerce Logistic Hub
PULAU INDAH, PORT KLANG — The master developer of Pulau Indah Industrial Park (PIIP), Central Spectrum (M) Sdn Bhd (CSSB) signed a sale and purchase agreement with Transcargo Worldwide (M) Sdn Bhd (Transcargo Worldwide) for the land in Pulau Indah Industrial Park.
The recent purchase of 5.42 acres land was an additional investment within two years by Transcargo Worldwide. With this, a total of 11.34 acres land has been earmarked for its facilities expansion due to PIIP’s strategic location and close to IKEA Regional Distribution and Supply Chain.
CSSB Chief Executive Officer Mohamad Razif Abdul Wahab said the Covid-19 crisis has, a silver lining for the logistics industry. It has sustained interest in the logistics industry supported by strong demand for warehouse and distribution facilities and Pulau Indah has all the offering for this industry. Transcargo Worldwide for example, has chosen Pulau Indah in addition to their other two locations in Kuala Lumpur International Airport (KLIA) and North Port. Being a logistics partner to Alibaba for the Digital Free Trade Zone, Transcargo Worldwide is convinced that Pulau Indah is the right choice for their growth expansion.
PIIP has met all the requirements to become an advanced distribution centre and logistic hub in Selangor. We have the land to build the required infrastructure, modern warehousing and other related support industries.
“Another advantage that we have is the excellent connectivity through road and railway. Soon, the Pulau Indah Ring Road will be upgraded as the Government has allocated funding for Phase 3 as highlighted in the 2021 national budget, according to Mohamad Razif.
CSSB is a member of Menteri Besar Selangor (Incorporated) and as a state-owned property developer, CSSB is optimistic that the company is able to record significant progress within the next six to 12 months. The progress is due to CSSB’s plan to fulfil the needs of multinational companies whilst to continue supporting the export and domestic sectors driven by the local companies.
Transcargo Worldwide Director Ong Chin Kian said PIIP becomes their choice of investment due to the industrial park’s comprehensive features namely its strategic location, easy accessibility to major highways, well-equipped facilities, gated and guarded as well as quality amenities complementing the fast-growing business industries.
“Following rapid growth in our business, we plan to build a flagship green warehouse spanning across 150,000 sq ft of space on the 5.92 acres land. The warehouse will be designed to fit the purpose of a third-party logistic (3PL), e-commerce logistic hub and cold storage facility. Meanwhile for the 5.42 acres land, we plan to utilise the plot for our future warehouse and truck fleet expansion with a total overall investment at approximately RM60 million in gross development value.” he said.
“We are grateful that we manage to work with CSSB. Moving forward, we will look for another opportunity to acquire other premium industrial land as well as property development launched by CSSB,” he said.
For further information, please contact:
Ong Chin Keong