Korean cosmetic firm Amorepacific to invest $230m in Johor
Cosmetic company Amorepacific plans to pump about US$170 million (S$229.5 million) into Malaysia by setting up an integrated centre for research and development and manufacturing in Iskandar Puteri, Johor.
UEM Sunrise said yesterday its unit UEM Land had signed a sale and purchase agreement with the South Korean company for 10.27ha of land within the Southern Industrial and Logistics Clusters in Iskandar Puteri.
"As part of its global expansion strategy, Amorepacific plans to invest approximately US$170 million into Malaysia," it added.
UEM Sunrise said the new plant would enable Amore-pacific to create between 300 and 500 jobs in Iskandar Puteri, one of the five flagship zones of Iskandar Malaysia.
Amorepacific said it was attracted to the central utility facilities within the industrial park.
It is equipped to provide services such as industrial steam, chilled water and industrial waste-water management.
The site is close to its regional headquarters in Singapore.
ASIA NEWS NETWORK