PKFZ masterplan to increase asset utilisation — Anthony Loke

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PORT KLANG (Oct 23): Port Klang Free Zone's (PKFZ) masterplan aims to increase the utilisation of its 380ha (950-acre) industrial zone and transform its 20ha (50-acre) commercial component.

Transport Minister Anthony Loke said at the PKFZ masterplan launch here today, the government hopes PKFZ can remain self-sustainable financially and repay its RM3.8 billion debt over the next 29 years to the Ministry of Finance (MoF). He said PKFZ is paying the MoF RM220 million a year or RM55 million every quarter under the debt repayment scheme.

"The whole masterplan today is to have higher utilisation of PKFZ. We have [a] hotel and convention centre here, but they are not being used, so we want to make sure all these strategic assets become valuable to PKFZ.

"There will be no capital injection from the government. PKFZ's masterplan will be funded internally. PKFZ and Port Klang Authority must stand on their own, make themselves sustainable to service the loan, there will be no obligation from the government to pay the loan. That is very clear, they are working hard for that," Loke said.

PKFZ chairman Chan Leng Wai was also present at the launch. On the 380ha industrial zone, he said PKFZ leased out 256ha (640 acres) of open land and 512 light industrial units.

"We are now working with our tenants to market the two million sq ft of warehousing space they have built. We are now embarking on strategic redevelopment of the industrial zone," Chan said.

On the 20ha commercial zone, Chan said PKFZ intends to rebrand it into an integrated hub with education, lifestyle and hospitality components.

During the first phase of the master plan, Chan said PKFZ will launch a few initiatives including a Maritime Logistics Academy and Maritime Science Discovery Centre.

At the launch today, PKFZ entered into six memorandums of understanding (MoUs), which include one with China Ocean Shipping Co Ltd to develop a regional vocational training centre.

PKFZ also signed an MoU with Pestech Sdn Bhd to install solar panels on the light industrial units.