The Chief Executive Officer of UPSB, Mr. Suardi Mohamed Zakaria signed the MoU, while YGMB was represented by its Chief Executive Officer, Dato’ Wan Muhadi Wan Mamat. Present to witness the ceremony which was held at the EDC-UUM recently were the Minister of Education, Yang Amat Berhormat Dato’ Seri Mahawangsa, Dato’ Seri DiRaja Mahdzir Khalid and UUM Vice-Chancellor, Prof. Dato' Seri Dr. Mohamed Mustafa Ishak.
The signing of the MoU signalled the first step for the strategic planning of real estate development in Kuala Lumpur to develop a UUM project called cK-Square on the site of 1:48 acre property owned by the Federal Territory Education Department at Jalan Haji Hussein, Chow Kit.
A graduate school, the UUM Othman Yeop Abdullah Graduate School of Business (OYAGSB) is expected to be built together with a 12-storey hotel.
Also present to witness the signing of the MoU were the Kedah State Executive Council Member, Dato’ Hj. Tajul Urus Hj. Mat Zain; Chairman of the YGMB Board of Trustees, Tan Sri Dato’ Hj. Alimudin Mohd. Dom; Chairman of Uniutama Management Holdings Sdn. Bhd. (UMHSB) Board of Directors, Dato’ Paduka Hj. Abdul Rahman Ibrahim; Chairman of the Uniutama Property Sdn. Bhd. (UPSB) Board of Directors Dato’ Megat Fairuz Junaidi Tan Sri Megat Junid, as well as members of the YGMB Board of Trustees.
Yang Amat Berhormat Dato' Seri Mahdzir in his speech said that the cooperation between UUM through UPSB with YGMB this is a step in the right direction. According to him, such cooperation is not only to generate income but also provides good impression on the development of socio-economy and education of the local people.
"I fully support this excellent effort, and I believe that with the presence of experts from UUM, UPSB, and YGMB, the efforts will indeed be fruitful.
"There had been several proposals submitted by several parties to me prior to this, to purchase this land and develop it but in my judgment, this proposal is by far the best as both the education sector and the national economy can be developed," he said.
Meanwhile, the Vice-Chancellor in his welcoming speech said that UUM has plans to own a property in Kuala Lumpur because of the long-term importance.
"Every year, funding from the Government decreases while operational costs increase each year. Universities are required to find their own funds to cover the rising cost of care. Thus, UUM should have a strong source of revenue to cover its financial needs, especially with each year the government reduces the amount of allocation given as a means of educating us to become more self-sufficient, "he said.
"Therefore, we need to consider all the possible potential that exists to find the most productive way to develop the potential of the University and that is through property development," he added.
Member of the UPSB Board of Directors, Datuk Hashim Subuh said that the signing of the MoU is evidence that UPSB is committed to improving business activities in line with the company's goal that is to contribute to the service oriented property development and management as well as real estate related activities which are seen to have broad prospects in Malaysia today.
Meanwhile Chairman of the YGMB Board of Trustees, Tan Sri Dato’ Haji Alimudin Mohd Dom said that these efforts will hopefully bring positive results to all interested parties in addition to catalysing the development of the country.
Also present at the ceremony were UUM senior officials, UPSB senior officials and YGMB senior officials.
Translated by Mahaliza Mahadhir
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