clock 16-05-2024
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NCT Group Signs Joint Development Agreement With Northern Gateway for Delapan

Set to carve a mark in the regional economic landscape, NCT Group of Companies (NCT Group), inked a Joint Development Agreement (JDA) with Northern Gateway Group of Companies (NGX), a wholly-owned subsidiary of Minister of Finance Inc. (MOF Inc.) to develop an approximately 127 acres commercial and industrial land at Delapan Special Border Economic Zone (Delapan) in Bukit Kayu Hitam, Kedah.

The alliance marks the next phase of growth for NCT Group, representing its second milestone in industrial park development following the ongoing development of the NCT Smart Industrial Park (NSIP) in Selangor. NCT Group aims to apply its expertise and successes within Delapan targeting key high-tech industries including semiconductor, electrical and electronic (E&E) and smart logistics, among others.

This focus sets the stage for synergistic growth within Delapan, reflecting the bright prospects ahead for the Northern region.

As the developer of Malaysia’s first certified managed industrial park (MIP), NCT Group will leverage its technical know-how in industrial park development to Delapan, further strengthening its offerings with sustainable and cutting-edge infrastructure. NCT Group will be responsible in handling the end-to-end project development from design conceptualisation, physical development, ecosystem development and marketings, while NGX will oversee primary infrastructure and utilities developments, joint marketing efforts and regulatory approvals.

The project is expected to complete within six years, in line with the Government's policy to strengthen Malaysia’s position as a strategic gateway for border trade within ASEAN regions and beyond.

The JDA was signed by Dato’ Sri Yap Ngan Choy, the Founder and Group Managing Director of NCT Group and Razwin Sulairee Hasnan Termizi, the Chief Executive Officer of NGX, in the presence of Yang Berbahagia, Datuk Dr. Shahrazat Haji Ahmad, Chairman of NGX as well as the Board Members of NGX.

Dato’ Sri Yap Ngan Choy, Founder and Group Managing Director of NCT Group said, “We are pleased to forge this partnership with NGX, marking a monumental leap forward for NCT Group as we apply our extensive experience from the NSIP development in Selangor to the Delapan project in Kedah. This collaboration opens up numerous opportunities to utilise clean electrification and solar energy solutions that set new standards for eco-friendly industrial zones as evident with NSIP. We are excited to unlock the immense potential of this region and to replicate the success
from NSIP Selangor across Malaysia, while prioritising Environment, Social and Governance principles. This agreement represents a significant milestone for us and we are honoured for the trust and confidence to undertake this important development as we play an active role towards shaping regional economies and communities.”

Delapan, strategically positioned as a key logistics hub near the Thailand border and the Penang Port, is integral to Malaysia's economic strategy aimed at enhancing regional trade dynamics. This development is expected to optimise the utilisation of Penang Port and tap into the USD 30 billion annual trade with Thailand, where 70%
of transactions occur at the border, by providing efficient, and uninterrupted access to global markets via road transportation and terrestrial networks without unpredictable delays as a result of the situation at the South China Sea. This alignment with the government’s broader economic development plans will bolster trade flows and stimulate significant regional economic growth.

"NCT Group's highly specialised expertise in sustainable industrial development is key to maximising Delapan’s potential,” stated Dato’ Paduka Ammar Shaikh Mahmood Naim, the Director of Northern Gateway. “Their innovative approach will undoubtedly elevate the economic zone, attracting top-tier investors and enhancing our cross-border trade capabilities. We are proud to partner with them in this momentous development for the region and we are confident that their capabilities will further enhance the value creation of the Special Border Economic Zone
ecosystem, contributing to positive economic impact to the country.”

In collaboration with key investment promotion agencies such as NCER Malaysia and MIDA, NGX is taking specific measures in identifying various incentives to further enhance the attractiveness of Delapan amongst potential investors and businesses as its preferred destination. These incentives are designed to encourage companies to contribute to the region's economic growth and capitalise on the strategic location within the "China plus one" initiative.

Furthermore, Delapan being a Free Zone development, offers unique attributes that complement existing industrial ecosystems within the area, supported by cohesive efforts from the federal government and strong supports from the Kedah State Government. The completion of Delapan will multifold growth opportunities in historically underserved areas.

“With this agreement, we at NCT Group are stepping into our next chapter. This initiative is not just about expanding our presence geographically beyond Selangor, we are scaling up our ambitions to transform Malaysia’s industrial landscape. We are bullish about Malaysia’s growth trajectory and we look forward supporting the Government’s effort in achieving the high-income nation status. Leveraging NSIP’s proven strategies, we are committed to creating developments that transcend economic impact and infrastructural growth, by integrating sustainable ecosystems
for generations to come,” concluded Dato’ Sri Yap.

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