The master developer of Kuala Lumpur Internet City (KLIC), Catcha Group will soon announce "high value investments" that will help boost Malaysia to become "the Silicon Valley of the East", said its founder and chief executive officer (CEO) Patrick Grove (pictured).
When asked for new information, a spokesperson said told A+M that they are unable to disclose any information on it as yet as the details are being finalised. "We will be making an announcement on this in the next couple of months," she added.
Speaking to New Straits Times (NST), Grove said the group is expected to identify KLIC partners that will include government-related entities and international investors, in three months. Grove, who is also the co-founder of iflix, told NST reporters on the sidelines of Invest Malaysia 2018 this week the group hopes to "transform the Klang Valley into the Silicon Valley of Southeast Asia, modelling the KLIC after the famed Silicon Valley in the US”. He added that the KLIC will play a key role in the recently-launched Digital Free Trade Zone (DFTZ), and praised many local companies such as AirAsia, Grab, CIMB Group and Malayan Banking which had grown to become regional businesses.
Grove said earlier he sees a huge opportunity for Malaysia and ASEAN to expand within the digital space, due to the region having the highest smartphone penetration rate worldwide.
The DFTZ has two key components, Alibaba’s regional logistics hub in Kuala Lumpur International Airport and the KLIC, which is smacked on a 10-acre spot in Bandar Malaysia. KLIC is a lifestyle focused city, with eco-friendly buildings, bike paths and large open spaces for community activities.
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