JOHOR BARU: It was highlighted that the South Korea’s AMOREPACIFIC plans to invest US$170.68 million (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, measuring 9.45 hectares.

“With the establishment of the new facility, AMOREPACIFIC expects to create between 300-500 jobs in Iskandar Puteri,” UEM Sunrise said in a statement.

SiLC is a 526.09-hectare managed industrial park dedicated for the establishment of pharmaceutical, biotechnology, advanced technologies and integrated logistics companies.

Source: The Iskandarian