Majuperak plans commercial development in Penang

Majuperak plans commercial development in Penang

By Loong Tse Min

KUALA LUMPUR: Perak state government vehicle Majuperak Holdings Bhd plans to launch a 17.9-acre commercial development in Seberang Prai in Penang by early next year.

Majuperak, which had on Wednesday taken over the listing status of United Chemical Industries Bhd (UCI), has already submitted applications to the government.

Part of the applications for the Penang project involved the conversion of the land, which is currently occupied by UCI's factories, to commercial status from industrial at present.

In conjunction with its takeover of UCI's listing status, Majuperak has also transferred to the main board effective Wednesday.

Of Majuperak's total landbank of 4,000 acres the company has 1,000 acres under planning for development, said chairman Datuk Seri Megat Najmuddin.

"With a large area like 1,000 acres we are looking at a township model, while our other smaller parcels would be mainly housing project," he said.

Located in Simpang Pulai, Perak the proposed township is fronting a lake and would be targeted at buyers from both within and outside of the state, he said.