Central Spectrum inks deal with Oleon Port Klang for oleochemical plant expansion

Signing ceremony of the sale and purchase agreement between Central Spectrum and Oleon Port Klang.

Signing ceremony of the sale and purchase agreement between Central Spectrum and Oleon Port Klang.

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KUALA LUMPUR (July 5): Central Spectrum (M) Sdn Bhd (CSSB), the developer of Selangor Halal Hub (SHH), signed a sale and purchase agreement with Oleon Port Klang Sdn Bhd to purchase additional land measuring 10.07 acres in SHH on Pulau Indah, Selangor for RM30.7 million on July 5.

Oleon Port Klang is expanding its manufacturing facilities in SHH to meet the global oleochemical demand. This latest facility is expected to be worth RM200 million and will create more job opportunities, specifically in the segments of high and specialised skills.

In a statement, CSSB chief executive officer Mohamad Razif Abdul Wahab said: "Today's ceremony marks another milestone in a long-standing business relationship between us and a respected investor of ours, Oleon Port Klang. Oleon has always been one of our initial and largest investors since 2012, when Oleon invested RM230 million to set up their current plant in Selangor Halal Hub, which has created 130 job opportunities for the local community."

Also present at the event were Belgium Ambassador to Malaysia Pascal Gregoire, Selangor Menteri Besar Datuk Seri Amirudin Shari, and Selangor state secretary Datuk Haris Kasim.

This signing ceremony also represented another significant milestone and a testament to Selangor's long-standing and progressive bilateral relationship as well as cooperation with Belgian multinational companies and investors. To date, 15 projects or investments have been made by Belgian companies in Selangor. The total investments in relation to these projects are estimated at RM0.5 billion with a creation of 1,179 job opportunities.

With the reopening of the country's economy, the industrial market is gradually recovering in terms of sales growth, owing primarily to higher e-commerce penetration that has led to an increased warehousing or logistics space requirements and manufacturing activities. CSSB has been steadily promoting and investing in the development of its industrial parks and is confident of attracting more investments by working closely with the state government and industry partners to help companies expand their business presence both locally and globally.

Wong King Wai