Wider SME interests seen as Starcity Ventures enters POIC Lahad Datu  

KOTA KINABALU: A local company’s entry into POIC Lahad Datu is expected to increase cargo throughput and attract wider investor interests among small and medium industries and cold chain logistics.
 
Sabah-based Starcity Ventures Sdn Bhd agreed to buy 3.5 acres at POIC Lahad Datu, the state-owned industrial park in Lahad Datu for a fruit and vegetable wholesale and distribution business.
 
To be equipped with comprehensive cold storage capabilities, a first at POIC Lahad Datu, the investment is expected to create a virtuous cycle beneficial to intensifying economic activities in Sabah’s East coast.
 
“We’ve been trying to woo investment in cold chain logistics, and this Starcity’s setup will definitely spur investor interest among players along different supply chains.
 
“We hope to be able to attract cold storage ships to call at our port.”
 
“Besides, potentially fruit distribution to cities in BIMP EAGA may be opened up, resulting in raising the volume of outward cargo that will lead to the realisation of our goal in making POIC the logistics hub in BIMP EAGA,” said Datuk Fredian Gan, the Chief Executive Officer of POIC Sabah Sdn Bhd, on the sideline of the signing of a sales and purchase agreement on 20 Dec.
 
He signed the SPA on behalf of POIC Sabah, together with the company’s Finance Manager Ms Wendy Kung.
 
Starcity Ventures, which has an operation in Kota Kinabalu and several cities in Sarawak, was represented by its two Directors, Mr Ting Kuok Seng and Mr Ngu Cheng Tien and also Mr Hii Yew Tung, the Company Secretary.
 
The company is looking to spend at least RM5 million to build its cold storage facilities and warehouse space.
 
Meanwhile, Datuk Gan welcomed Starcity Ventures saying the investment shows that businesses are seeing the potentials of POIC Lahad Datu in relations to BIMP EAGA, leveraging the status of POIC Ports as public ports.
“The Sabah government’s Sabah Maju Jaya development initiatives have identified the East Coast, where POIC Lahad Datu is central, as a new economic growth centre.” he said.