Perak in talks with investors for Tanjong Malim auto ecosystem after BYD plant reversal

Perak state executive councillor Loh Sze Yee says discussions with local and foreign investors for Tanjong Malim's automotive ecosystem continue after BYD dropped plans for an assembly plant there. Loh declined to identify the parties or disclose potential investment values. Separately, Setia Awan L

PETALING JAYA (Sept 28): Perak is in talks with several local and foreign investors interested in Tanjong Malim's automotive ecosystem, state executive councillor Loh Sze Yee said, after BYD dropped plans earlier this month to build its own assembly plant there, according to Bernama.

Loh did not identify the prospective investors or disclose the potential investment value, proposed sites or stage of the discussions. Some companies, particularly listed ones, must comply with requirements before making investment-related announcements, he said.

BYD Malaysia confirmed on Sept 10 that its proposed Tanjong Malim facility would not proceed. It said it remained committed to local vehicle assembly and was finalising an arrangement with an established Malaysian assembly partner, which it did not name. BYD Malaysia managing director Jacob Ma said discussions with the partner were at an advanced stage.

Speaking to reporters in Sungai Siput on Sunday (Sept 27), Loh said BYD's change of plan had not affected the state and federal governments' engagement with other potential investors. He said Perak was seeking companies that fitted Tanjong Malim's automotive ecosystem, with land availability another consideration. Proposed investments would also have to take into account the Ministry of Investment, Trade and Industry's broader planning for Malaysia, he added.

Separately, Setia Awan Land Sdn Bhd launched its 447-acre Tanjong Malim Hi-Tech Park on Sept 21 with an estimated gross development value of RM1.4 billion. Setia Awan said its 104-acre first phase had achieved 50 per cent take-up and named Ningbo Fresh Technology Co Ltd and Sheentech Automotive Systems Sdn Bhd among its investors. Loh did not say whether the prospective investors now in talks included those companies or were additional parties.

BYD's proposed plant had been intended to anchor the first phase of KLK TechPark, a separate 1,500-acre private development near the Automotive High-Tech Valley. The proposed facility was to occupy 150 acres. Loh did not specify which development or landowner was involved in the current discussions.