UDA Holdings-SEDC collaboration to help state recover from Covid-19 fallout

Abang Johari (standing third left) witnessing the signing of MoU documents between SEDC and UDA Holdings today (Sept 1, 2020).

By Peter Sibon

KUCHING, Sept 1: The collaboration between UDA Holdings Bhd and SEDC in Kuching will help the state to rebuild its economy which has been battered by the Covid-19 pandemic, says Chief Minister Datuk Patinggi Abang Johari Tun Openg.

Besides that, he also thanked both parties for their efforts to help modernise Kuching.

“This project will change the landscape of Kuching. So, with this project, it will help us to rebuild our economy on top of our own allocation of RM2.3 billion from our own fund to help our entrepreneurs (under the state stimulus package,” Abang Johari said during a ceremony for the signing of a Memorandum of Understanding between UDA Holdings Bhd and Sarawak Economic Development Corporation (SEDC) at a hotel here today.

Prior to this, he revealed that UDA had actually invested in developing Kuching at Tabuan Jaya, which was spearheaded by housing developer Ibraco Bhd.

“And now it is a thriving and successful urban satellite (area) of Kuching,” he said.

The Chief Minister also expressed hope that both UDA Holdings and SEDC will invest in Bintulu’s petro-chemical hub at Tanjung Kidurong for petroleum and gas downstream activities. He noted Sarawak has gas reserves comprising at least 54 per cent of the nation’s gas reserves.

“In the next seven to ten years, we can expect the number of workers including expatriates to grow to at least 74,000. So, I hoped both parties will study the possibility,” he said.

Additionally, the Chief Minister also hoped that the project could attract expatriates under the state’s second home programme as Sarawak has its own unique tourism attractions with plenty of eco-tourism products.

“You can drive to many of our national parks within 40 minutes’ drive from our airport,” he added.

An artist’s impression of the mixed development project by UDA Holdings and SEDC at Jalan Dato Marican Salleh in Kuching.

On a related issue, he disclosed that the state government has decided to extend the moratorium on loan repayment for small and medium enterprises (SMEs).

“Just yesterday, we agreed to extend the moratorium to further assist our entrepreneurs so that they don’t have to pay their loans until the end of the year,” he said.

Earlier, SEDC and Uda Holdings signed a Memorandum of Understanding (MoU) to develop 12.6 acres of prime land along Jalan Dato Marican Salleh, Kuching as a mixed development with a gross development value of RM400 million.

Upon its completion, the project will feature a 12-storey complex with 200 rooms, 4-star hotel, commercial centre as well as residential units, two blocks of 21-storey apartments, swimming pools and playground.

The development project is expected to help Sarawak in its urban transformation efforts.

The collaboration between SEDC and UDA Holdings on the project started in 2017. — DayakDaily