Mines 2 eyes up to RM15m annual rentals

Mines 2 Sdn Bhd expects to rake in up to RM15 million in rentals a year from the Mines 2, an office building and shopping mall.

Its chairman/founder, Tan Sri Lee Kim Yew, said Mines 2, which was expected to open in Oct 15, was the first fully light-emitting diode (LED) commercial building in the country.

Lee said Mines 2 was expected to attract 10-12 per cent more visitors from the Mines Shopping Fair (owned by CapitaLand) which has one million visitors a month.

"We expect Mines 2 to record an occupancy rate of 90 per cent by June next year," he told reporters after signing an agreement with Frontken Corp Bhd to enhance cooperation on green initiatives today.

The RM150 million 11-storey mall houses 400 shops and kiosks to encourage small and medium businesses as well as office spaces.

Lee said the company invested RM5 million for the LED installation to help save energy, promote sustainability, reduce environmental impact and improve the quality of the light.

The LED, installed by GreenFront, a division of Frontken, was designed to create a new green initiative to validate cost savings and its technology capabilities to deliver the economic, environmental and application benefits.

"With Frontken's LED technology, Mines2 is expected to reduce the utility expenses by up to 40 per cent from the lighting and air-conditioning loads.

"This will in turn help minimise the environmental impact by reducing carbon discharge," Lee said.

Lee, who is also the deputy chairman of Country Heights Holdings Bhd, said the group also planned to install LED lighting in projects that were built in the past 10-20 years ago as well as for future developments.

Among Country Heights's projects are Palace of the Golden Horses, Mines Wellness Hotel, which is the city's only beach resort, Mines Waterfront Business Park and Mines Exhibition and Convention Centre, he said.

Meanwhile, Frontken's executive chairman/managing director, Willie Wong, said the company would also install one of the biggest LED screens in Malaysia to run promotional messages for Mines 2 and also social awareness video campaigns.

The screen is expected to complete by the end-October, he said.

"We have created some innovative green products and would like to invite other shopping malls to join us in creating and developing energy-efficient malls," Wong said.

By Bernama