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US-China trade war to benefit Selangor Bio Bay project - Teng

Last update: 12/03/2019
PORT KLANG, March 12 (Bernama) -- The ongoing trade war between China and the United States will likely benefit Central Spectrum (M) Sdn Bhd (CSSB) in terms of attracting investments for its Selangor Bio Bay (SBB) project, one of the company's flagship developments.

Selangor senior executive councillor in charge of investments, Datuk Teng Chang Kim, said he foresaw more industrialists from the biotechnology sector of China, India and the European continent investing in SBB as a result of the trade dispute.

"We see an influx of manufacturers coming to Malaysia as a result of the trade war. We expect to help more players in the biotechnology industry come to Pulau Indah and invest in SBB," he told reporters after launching CSSB's new corporate logo themed “The New Chapter” at SBB here today.

Also present was CSSB chief executive officer Mohamad Razif Abdul Wahab.

Teng said SBB was envisioned to become Selangor's premiere biotechnology hub, built as an eco-friendly and high-tech infrastructure that met end-to end industrial, commercial and residential needs.

Meanwhile, Mohamad Razif said in his speech that this year marked the 25th anniversary of CSSB, which began with a team of three at Kompleks PKNS Shah Alam in 1994 and had grown to become stronger when it moved its headquarters to Pulau Indah five years later. The group, including its subsidiaries, today has a 94-strong workforce.

CSSB is a member of Kumpulan Darul Ehsan Bhd, Selangor state's investment arm.

-- BERNAMA



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