UNI Wall APS Holdings Bhd, a provider of building facade services to property developers is collaborating with NS Corporation, the Negeri Sembilan’s state government agency responsible for the investment and economic affairs, to develop a portion of the land in Malaysia Vision Valley 2.0 (MVV 2.0).
Both parties has formed a special purpose vehicle (SPV) called NS Aero City Sdn Bhd which cements Uni Wall’s role as master developer of the project.
“We are confident that with our construction expertise spanning over 20 years combined with the support from governmental authorities, we can design and build the infrastructure customised to our customers’ requirements within the time frame allocated,” commented Uni Wall’s CEO Siow Hon Yuen.
“The roles and responsibilities of the SPV is to ensure the success of MVV 2.0’s development which will be the catalyst for major key economic transformation to support the development in Negeri Sembilan.
“UNIWALL sees a huge potential in this project and we are grateful to be awarded the opportunity to embark on this partnership with NS Corp with the mission to create long-term value for all stakeholders.”
During the signing ceremony, UNI Wall also inked a sukuk (Islamic bond) agreement with Alliance Investment Bank Bhd for the establishment of a sukuk programme of up to RM5 bil. Proceeds raised from the issuance of the sukuk programme shall be utilised for the purchase of lands and the development of properties related to MVV 2.0.
An economic growth corridor initiated by the Negeri Sembilan state government, MVV 2.0 is earmarked as one of 17 promoted developmental zones under the Malaysian National Physical Plan.
The overall development spans across 153,411 hectares of land covering the districts of Seremban and Port Dickson.
Envisioned to be the next integrated city in Southeast Asia driven by public-private partnerships, the objective of the development is to create a prosperous, inclusive and sustainable platform for international industry players to invest in Negeri Sembilan while at the same time, create quality employment focusing on the Fourth Industrial Revolution (4IR).
At 10.55am, Uni Wall which has a market capitalisation of RM578 mil was untraded at 79 sen. – Nov 19, 2021
