Vizione in talks with Negeri Sembilan government agency for Malaysia Vision Valley 2.0 development
KUALA LUMPUR (March 9): Full-fledged integration construction engineering group Vizione Holdings Bhd has inked a memorandum of collaboration with Negeri Sembilan government agency NS Corp for the development of Malaysia Vision Valley 2.0 (MVV 2.0).
In a statement to Bursa Malaysia today, its executive director Chan Chee Wing said their current discussions centre on a development in stages, with the first phase being an international high speed processing, logistics, and distribution hub (IPLD hub) that will be part of a proposed free trade zone.
“This development is to cater for existing huge demand for such facilities. Free trade zones have proven to be one of the best catalysts of regional economic development,” he said.
MVV 2.0 is an economic growth corridor initiated by the Negeri Sembilan state government. The state-led private sector-driven integrated economic development spans about 153,411ha of land covering districts of Seremban and Port Dickson (Master Land).
Chan noted Vizione intends to equip the industrial facilities with artificial intelligence, internet of things deployment, electronic data interchange framework, high speed connectivity and automation features.
“With our construction expertise, we can design and build these next generation smart factories, distribution centres and support facilities, customised to our customers’ requirements within record time with support from governmental authorities.
“Cognisant of the rising awareness of sustainability issues globally, especially for multinational corporations, the entire development would be a truly green industrial and distribution hub with integrated solar power generation, and systematic recycling and disposal of industrial waste with controlled identification, in addition to ample green landscaping and efficient green design. This is in line with our proposed diversification into renewable energy,” he said.
According to Chan, Vizione is excited with the huge prospects ahead for the MVV 2.0 development as this will be game-changing for the group as well.
“Our focus now is to bring the fruitful discussions with NS Corp to the next level via a definitive arrangement or agreement. This foray into the IPLD hub is in line with our selective expansion into [the] high technology industrial sector which remains one of the best performing subsegment of the development industry,” Chan added.
Should the collaboration materialise, Vizione said it is expected to contribute positively to the future earnings of the group.
Meanwhile on the corporate front, Vizione managing director Datuk Ng Aun Hooi said he looks forward to a revitalised year ahead for the group following the nationwide mass roll-out of vaccination plans.
“With macroeconomic activities expected to rebound in 2021, the construction sector will see earnings recovery as well. We believe the worst is cover, and things will only get better for us going forward. We are currently kept busy executing our construction jobs in hand, as well as bidding for a number of new projects. We hope to share more good news soon,” he added.
At the closing bell today, shares of Vizione settled half a sen or 1.64% lower at 30 sen with some 10.11 million shares done. This gave the group a market capitalisation of RM236.56 million.
Edited by Tan Choe Choe
Source: The Edge Markets