KUALA LUMPUR, July 28 — World Peace and Development Limited (WPD) and MTIEL Holdings Sdn Bhd (MTIEL) signed a memorandum of agreement to jointly develop energy and halal food businesses on Thursday.

In the agreement signed at the World Peace and Development Valley in Shenzen, China, the two committed to developing a food security complex (FSC) and halal transshipment hub (HTH) at the Perlis Chuping Valley Industrial Area (PCVIA).

They will also partner on a petroleum storage and processing complex (PSPC) at the Kedah Science and Technology Park (KSTP), with the projects to complement one another through logistics tie-ins.

"This landmark agreement, signed on July 25, 2024, in Shenzhen, China, will strengthen Malaysia's position in the global halal market,” project advisor Datuk Rashid Ghani said in a statement announcing the MoA.

"As we celebrate Independence Day, this project symbolizes new hope and a brighter future for our nation, embodying the MADANI government's commitment to sustainable and inclusive development.”

MTIEL managing director Nazri Ramli said at the signing that the project would cover the Malaysia-Thailand Peninsula (IMTP) Isthmus, letting it tap investments in halal livestock agriculture, aquaculture, and textile production.

Nazri also said the project would support the Indonesia-Malaysia-Thailand Growth Triangle (IMTGT) to improve regional trade.