Matrix Concepts set to woo RM1 bln more foreign investments
As Sendayan TechValley gains traction with foreign direct investments, we are optimistic of selling an estimated RM770 million worth of the balance landbank in Sendayan TechValley over the next five years.
Datuk Mohamad Haslah Mohamad Amin, Matrix Concept chairman KUALA LUMPUR: Property developer, Matrix Concepts Holdings Bhd (Matrix Concepts), en route for main board listing on Bursa Malaysia, is set to attract about RM1 billion more foreign investments at its Sendayan TechValley industrial component.
Chairman Datuk Mohamad Haslah Mohamad Amin said the group was currently at advanced stage of talking to companies from the US, Japan and Europe.
The negotiations were expected to be concluded in six months, he told reporters after the group’s prospectus launch yesterday.
Mohamad Haslah said the group was selective and priority was given to environment- friendly companies in high-impact industries.
Since the launch of Sendayan TechValley at end-2010, it has attracted several global players in the automotive and aviationrelated industries, including Nippon Kayaku, Hino Motor, Akashi- Kikai Industry, Keen Point Limited, TMC Metal and Messier-Buggati-Dowty.
These companies had pledged RM2.1 billion in total capital investment to set up their manufacturing facilities, he said.
Sendayan TechValley is a 400 hectare (1,000 acres) of industrial component within the group’s flagship integrated township development Bandar Sri Sendayan in Seremban.
Mohamad Haslah said Sendayan TechValley contributed RM80 million in revenue, translating to 17 per cent of Matrix Concepts Group’s total revenue of RM465.1 million in financial year ending December 31, 2012.
“As Sendayan TechValley gains traction with foreign direct investments, we are optimistic of selling an estimated RM770 million worth of the balance landbank in Sendayan TechValley over the next five years,” he said.
Meanwhile, Matrix Concepts’ initial public offer (IPO) entails a public issue of 62.5 million new ordinary shares, of which 10 million shares are allocated for public balloting, 8.8 million shares for the group’s eligible directors, employees and business associates and the remaining 43.7 million shares are for private placement to selected investors.
The offer price has been set at RM2.20 per ordinary share.
The group’s IPO was expected to raise RM137.5 million, of which RM55 million would be allocated for construction of infrastructures and common facilities at Bandar Sri Sendayan, RM55 million for working capital and RM10 million for the construction of the 1Sendayan Clubhouse at Bandar Sri Sendayan.
The remaining RM11 million and RM6.5 million would be allocated for repayment of bank borrowings and listing expenses.
With the prospectus launch yesterday, applications for Matrix Concepts’ IPO were openned and would close on May 15.
Barring unforeseen circumstances, Matrix Concepts is tentatively slated to be listed on May 28. — Bernama