The Perak State Secretary Incorporated (SSI) and MH Amanjaya Properties Sdn Bhd (MHAP) signed a joint-venture agreement for the construction of the second phase of the Ipoh SOHO (small-office-home-office) project at Jalan Sultan Idris Shah, Ipoh recently.
The signing of a Memorandum of Understanding (MoU) took place at MH Hotel and the ceremony was graced by SSI Chairman, Dato’ Abdul Puhat Mat Nayan and Chairman of MHAP, Dato’ Aminudin Hashim Sambi, the signatories of the MoU. Present as witnesses were members of the state executive committee and the Director of SSI, Dato’ Zainol Fadzi Paharuddin.
According to Abdul Pahat, the signing of the memorandum signifies the co-oporation between the two parties. He hopes that the project built on the one-hectare SSI land, will generate additional income for the department. “We estimate that a profit of about RM27 million can be generated from the venture, whereas profits would be very much lower if we were to just sell off the land,” he said.
Aminuddin told reporters that this is the second joint venture project they have done since the first Ipoh SOHO project launched in 2011.
The project, based on a futuristic concept, will be built with a RM100-million budget. It will consist of 10 small-office-home-office units, a hotel and an SSI building. Work will commence in September and is expected to finish in 2016.