Lim (fourth from left), along with business members, posing for a group photo with Anwar (seventh from left) and Malaysian cabinet ministers after the signing ceremony.
PETALING JAYA: Property developer LBS Bina Group Bhd (LBS) has entered into a Memorandum of Understanding (MoU) with engineering machinery manufacturing industry leader Sany Group Co Ltd for collaborative projects worth an estimated RM11bil.
Under the MoU, LBS and Sany Group are to collaborate to jointly explore the group’s latest structural system for the development of 10,000 units of properties across Asia, with a total project value of approximately RM3bil.
The two companies are also to jointly explore, research and plan for an intelligent deep-water port in Malacca and build a One-Stop Industrial 4.0 Hub Port in the Malacca Waterfront Economic Zone (M-WEZ) comprising free trade zones and oil and liquefied natural gas industrial park and other port-related businesses using Sany Group’s expertise, that will amount to a total investment value of approximately RM8bil.
The signing of the MoU took place in China World Hotel Beijing, with LBS executive chairman Tan Sri Lim Hock San signing on behalf of LBS. Representing Sany Group was its president Tang Xiu Guo.
The ceremony was witnessed by Prime Minister Datuk Seri Anwar Ibrahim, Transport Minister Anthony Loke, Local Government Development Minister Nga Kor Ming, International Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Science and Technology Minister Chang Lih Kang, Foreign Minister Datuk Seri Zambry Abdul Kadir and Tourism Minister Datuk Seri Tiong King Sing.
Also present were MGB Bhd chief executive officer Datuk Richard Lim and of Leaptec Engineering Sdn Bhd managing director Datuk Mohd Anis Hisham Abd Aziz.
The MoU is effective from April 1 2023 and valid for one year with an automatic extension for a further one year, unless extended or renewed by mutual agreement of the parties in writing.
Lim (front right) and Tang Xiu Guo exchanged the MoU documents after the signing ceremony.
Lim said: “We have had a long-standing fruitful relationship with the Sany Group, tracing back to 2017 when we entered into a joint venture with them to kickstart our IBS precast concrete plants. We are pleased to continue to collaborate with Sany Group to explore our synergies in both property development across Asia and industry and port development in Malacca.
"We aim to work towards becoming a leading developer across the region which we hope to achieve through the use of IBS precast concrete. In addition, there is plenty of potential in Malacca and we are optimistic we would be able to contribute towards growing the economy within the state through the development of an industrial port.”
Based in China, Sany Group is the world’s second-largest heavy equipment manufacturer, known for its innovative and high-quality products. Sany Group is a leading high-end equipment manufacturer principally involved in general construction activities with over 20 R&D centres, automobile manufacturing, port machinery, new energy industries, architectural design, industrial internet, and the manufacturing of precast concrete products, with service networks in over 150 countries.
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