AME to invest RM25m capex to build new i-Stay@Indahpura workers’ dormitories

[The Edge Market]27 July 2020
(From left) AME property development division director Cheryl Lim, Haily Construction director Yoong Woei Yeh, Lee, i-Stay Management Sdn Bhd operation director Pu Wah Jian and AME engineering division managing director Vincent Lim at the ground-breaking ceremony on Saturday.

KUALA LUMPUR (July 27): Integrated industrial space solution provider AME Elite Consortium Bhd intends to invest RM25 million in capital expenditure (capex) to build two new blocks of i-Stay@Indahpura workers’ dormitories to support the requirements of customers in its i-Park@Indahpura industrial park.

In a statement today, AME said the additional two dormitory blocks would be able to accommodate nearly 2,700 persons in total.

It said together with the existing dormitories in i-Stay@Indahpura, the additional blocks would increase the accommodation capacity of i-Stay@Indahpura by 54% to approximately 5,900 persons.

AME said upon completion in 2021, the group’s enlarged dormitory capacity in i-Stay@Indahpura and i-Stay@Senai Airport City would increase to more than 8,400 persons.

AME executive director Simon Lee said that workers’ accommodation forms an integral part of the group’s holistic industrial park offering, enabling multinational corporations (MNCs) and domestic companies in i-Park industrial parks to provide employees with living quarters near their workplaces that are comfortable, modern, clean and safe.

He said AME had always offered a complete proposition to multinational and domestic corporations, pointing out its ability to custom-build manufacturing facilities in the i-Parks and accommodate the workforce at AME’s i-Stay dormitories.

“With the existing dormitories in i-Stay@Indahpura being 99% occupied, the new dormitory blocks would expand our capacity to attract even more MNCs and local enterprises to establish their bases in our i-Park@Indahpura industrial park.

“This expansion reflects the growing popularity of our integrated industrial park as we seek to create a working and living environment that is conducive to growth,” he said.

Lee highlighted that Johor had been consistently ranked as Malaysia’s top foreign and domestic investment destinations, particularly for the manufacturing sector.

“We endeavour to reinforce this standing by expanding the capacity and features of our i-Park industrial parks, so that the state enhances its appeal to attract top-notch investments from all over the world,” he said.

AME has awarded the construction contract to Haily Construction Sdn Bhd.

Construction will commence in August 2020, with targeted completion in October 2021.

At the midday break today, AME had gained 0.59% or one sen to RM1.70, with 876,400 shares traded.

source: The Edge Market

Related News:
New Straits Times
Bernama (BM)
Bernama (EN)
Instant SSL Premium