# JOHOR BAHRU | Asia Pacific Trade and Expo City Development News



## nazrey (Sep 12, 2003)

*Malaysia Pacific, S. Korean firm in Iskandar green city project pact*
Published: 2010/11/20
http://www.btimes.com.my/Current_News/BTIMES/articles/jrnen/Article/

MALAYSIA Pacific Corp Bhd (MPC) (6548) has signed a memorandum of understanding (MOU) with South Korea's information technology firm LG CNS for a green city project in Iskandar Malaysia.

The MOU is to promote and develop a long term cooperation and collaboration for the Lakehill Resort and *Aptec* "Smart Green City" related projects in Iskandar Malaysia.

LG CNS offers IT consulting, system and network integration and outsourcing services.

The green city park will enable the services of LG CNS to be used as a strategic planner in providing information and communications technology related services in design construction and maintenance of the Smart Green City project.

However, the details and scope of the project will be determined via mutual agreement at the time of the contract which will be approved by the board of directors of MPC and LakeHill Resort Development Sdn Bhd.

MPC in a statement to Bursa Malaysia yesterday said the MOU will be effective for six months from the date of the signing and can only be renewed if both parties agreed to do so.


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## kopiluwak98 (Nov 19, 2010)

thanks for information


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## nazrey (Sep 12, 2003)

*Malaysia Pacific awaiting official word on tax perks for project*
By Presenna Nambiar Published: 2010/12/23
http://www.btimes.com.my/Current_News/BTIMES/articles/pmap-2/Article/

THE RM4.6 billion Asia Pacific Trade & Expo City (Aptec) and Lakehill Resort City in Iskandar Malaysia, to be developed by Malaysia Pacific Corp Bhd (MPC), is in limbo, awaiting the approval of a special tax incentive status for the projects.

"We must get it (the special tax incentive status) in the first quarter. If we don't, our investors will get tired of waiting," MPC chief executive officer Datuk Bill C.P. Ch'ng said after its annual general meeting in Kuala Lumpur yesterday.

Aptec, conceptualised in 2008. is located within MPC's flagship 277.2ha Lakehill Resort City.

"There is a misconception that the special tax incentive is automatically given to projects within Iskandar Malaysia. This is not true, you have to apply for it," Ch'ng said.

He said preliminary approval for the status has been indicated. However, it is awaiting an official announcement from the government.

The company saw revenue drop by 13.6 per cent to RM9.7 million last year. 

In its 2009 annual report, MPC said the lower revenue was largely owed to the sales launching and joint-venture of LakeHill Resort and Aptec City which were delayed pending the comprehensive approval of all its developments, including the special tax incentive status applied under Aptec City. 

Ch'ng said the company hopes to obtain the tax incentives and secure financing for the project by the first half of 2011.


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## eddy888 (May 26, 2011)

*Just would like to know the APTEC project had started the construction? It is wonderful if somebody can paste some pictures of project which still under construction. Thanks. *


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## nazrey (Sep 12, 2003)

By Hartanah Johor Property Rumah Pertamaku on Flickr


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## eddy888 (May 26, 2011)

*PERFORMANCE REVIEW*
This 3rd quarter’s result ended 31 March 2011 was forecasted to remain a loss as was
expressed and explained in the last quarter’s report ended 31 December 2010. This was
mainly due to LakeHill Resort City (Lakehill) and APTEC projects which were not yet ready to launch pending financial funding exercise that have yet to be put in place for these high impact development projects. However, this low trend will be reversed once the construction works take-off.

PROSPECTS FOR THE FINANCIAL YEAR
APTEC AND LAKEHILL RESORT CITY IN ISKANDAR MALAYSIA[

*Highlight*

As updated from our 2nd Quarter report (ending December 2010), the Company is pleased to announce that Lakehill and APTEC are now confirmed qualified flagship development eligible for new fiscal incentives. Lakehill and APTEC is confirmed eligible to apply for ‘Special Fiscal Incentives’ exclusive only under Iskandar Malaysia, approved by the Government of Malaysia, located within the East gate “D” Zone, Iskandar Malaysia.
The above Incentives are applicable under the following industry sectors; (1) Tourism, (2)Healthcare and (3) Education which encompass in large what the Lakehill and APTEC
development master plan is approved.

Based on the above, Lakehill and APTEC are eligible to apply for the following incentives:-

Fiscal incentive items:
1. Five (5) year corporate tax exemption on 100% statutory income derived from
qualifying activities; or
Investment Tax Allowance (ITA) of 100% on qualifying capital expenditure incurred
to be offset against 100% of statutory income for five (5) years
2. Import duty and sales tax exemption on machinery and equipment used directly in the
company’s qualifying activities

Non-fiscal incentive items:
3. Flexibility to recruit and employ foreign knowledge workers
4. Flexibility under the foreign exchange administration rules set by the Central bank of Malaysia

The Prospect
The LakeHill Resort City and the APTEC will be a catalytic development in Iskandar
Malaysia. It will be one of the largest investment of its kind in Asia. It will require strong
capital and has taken time to plan and procure joint-ventures plus comprehensive financing, rather than piece-meal financing. However, upon successful financing being put in place, it will kickstart and contribute immensely to the rapid growth of the group. It will offer a diverse range of new businesses and opportunities for the group in future and the spillover effect of the economy will be enormous.
While the project size of Lakehill and APTEC far outreach the size of the company’s capital, management is accepting the big challenges ahead to achieve various strategic partnerships and financing to meet the challenges.
Shareholders will be pleased to note that the property prices in Iskandar Malaysia has risen over the past one year and we foresee further increase in property prices in Iskandar Malaysia. The approved plan encompassed a linked highway running through Lakehill is anticipated to be completed by 2013. The Pasir Gudang Municipal Authority (MPPG) has indicated that work will start on the linked highway in Lakehill sometime in 2011 or early 2012.


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## nazrey (Sep 12, 2003)

@ Lakehill Resort City 


JB Citizens (+_+) said:


> APTEC


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