Kuala Lumpur: South Korean company, AMOREPACIFIC Corporation, plans to invest RM691 million to develop an integrated centre for research and development, manufacturing and logistics of cosmetic products in Malaysia.UEM Sunrise, which is the master developer of Iskandar Puteri, said AMOREPACIFIC had inked a Sale and Purchase agreement (S&P) through its wholly-owned subsidiary, UEM Land Bhd. The S&P is for the sale of land parcels located within the Southern Industrial and Logistics Clusters (SiLC) in Iskandar Puteri, Johor, measuring 9.45 hectares.
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"With the establishment of the new facility, AMOREPACIFIC expects to create between 300-500 jobs in Iskandar Puteri, one of the five flagship zones of Iskandar Malaysia," UEM Sunrise said in a statement.
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He said it would create a positive chain reaction attracting both upstream and downstream industries into the region which would spur employment and population growth in Iskandar Puteri. – Bernama
