UUM & Amtel Mega Seal Pact To Develop The Langkawi Premium Outlet

UUM & Amtel Mega Seal Pact To Develop The Langkawi Premium Outlet

UUM ONLINE: Langkawi, Aug 19 - Universiti Utara Malaysia (UUM), through its subsidiary, Uniutama Management Holdings Sdn. Bhd. (UMHSB), entered into collaboration with Amtel Mega Sdn. Bhd., a subsidiary of Amtel Holdings Berhad, to undertake the development of Premium Outlet, located in Kuah, Langkawi, in the near future.

Accordingly, a Memorandum of Understanding (MoU) was sealed between the two parties so as to take concrete steps towards the realisation of the proposed development project.

At the MoU signing ceremony, UMHSB was represented by the Chairman of its Board of Directors, Dato' Megat Fairouz Junaidi Tan Sri Megat Junid, while Amtel Mega was represented by its Director, Mr. Megat D. Shahriman Dato' Zaharudin. Present to witness the event were the Chief Executive Officer of UMHSB, Mr. Suardi Mohamed Zakaria, and a representative from Amtel Holdings Sdn. Bhd., Mr. Khalid Dato' Seri Ahmad Husni.

The signing of the pact, which was also witnessed by the Right Honourable Prime Minister, Dato' Seri Mohd Najib Tun Razak and the Vice-Chancellor of UUM, Prof. Dato' Seri Dr. Mohamed Mustafa Ishak, and took place after the launch of Digital Langkawi at the Mahsuri International Exhibition Centre.

The Premium Outlet Project, which will be named the 'Langkawi Premium Outlet', is to be built on a 10-acre tract of land belonging to UUM. It is expected to be another iconic landmark that will rapidly develop into a compelling source of attraction to both local and international tourists coming to Langkawi Island.

As part of the commitment agreed upon under the joint venture pact between the two parties, UMHSB and Amtel Mega Sdn. Bhd. will act as the Joint Master Developers of the project where Amtel Mega Sdn. Bhd. will fully finance, and invest in, its development.

The proposed project is another important initiative of UUM centred on fostering its financial sustainability by invigorating and increasing wealth generation through establishing long-term sources of income for the University under its strategy of 'Monetizing Assets'.

Translated by Mahaliza Mahadhir 

 

    

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