POIC Lahad Datu to see more activities in cold-chain
LAHAD DATU: The investor community is urged to consider opportunities in the logistics industry arising from development in eastern Sabah, particularly Lahad Datu.
BIMP-EAGA (Brunei, Indonesia Malaysia, Philippines, East Asean Growth Area) with an 80 million population can be a lucrative single market when its logistics infrastructure is in place,” said Datuk Fredian Gan, the Group Chief Executive Officer of POIC Sabah Sdn Bhd.
He was speaking at the signing of a sale and purchase agreement with Eco Fresh Cold Storage Sdn at POIC Lahad Datu on Tuesday.
The deal involved the sale of 1.86 acres of land at the POIC Lahad Datu industrial park.
Eco Fresh Cold Storage, a Lahad Datu-based company, expects to spend RM5 million for the development of a supermarket complete with cold storage facilities. It also plans a RM50 million expansion to other towns in the east coast involving at least five additional outlets.
Gan hailed Eco Fresh Cold Storage’s investment as an indication of confidence in POIC Lahad Datu and the economic fundamentals of Sabah east coast.
Sabah, especially its east coast towns, are an integral part of BIMP-EAGA which is known for its diverse natural resources and maritime potentials. The imminent establishment of Indonesia’s new capital at Nusantara in East Kalimantan (within BIMP-EAGA) has been fanning talks of a new era in regional prosperity.
Gan spoke of POIC Sabah’s vision for POIC Lahad Datu as a logistics hub for BIMP-EAGA, saying it desired investors in hinterland transport and interBIMP maritime linkages.
“On the same note, we hope that Eco Fresh Cold Storage’s decision to invest at POIC Lahad Datu will generate wider awareness of the great business opportunities for small-medium enterprises to be based at POIC Lahad Datu.
“We anticipated growing SME interest and have set aside land to cater to the increasing demand. With the growing global interest in the resources in BIMP-EAGA, from palm oil to petroleum to marine resources and minerals, we think the completion for strategic industrial land will intensify,” he said.
The sale and purchase agreement was signed by Gan together with Ng Meng Chuan, Managing Director of Eco Fresh Cold Storage.
POIC Sabah Group Chairman Datuk Seri Panglima Yong Teck Lee witnessed the signing.