• Acotec’s precast IBS wall panels to be deployed to the PRIYA Kuantan affordable homes project in Kuantan, Pahang.

Selangor, Malaysia, 3 March 2022 – Integrated property developer OCR Group Bhd (“OCR” or “the Group”) today formed a strategic collaboration with Acotec Sdn Bhd (“Acotec”), a member of OSK Group, to deploy the latter’s Industrialised Building System (“IBS”) technology in the Group’s PRIYA Kuantan affordable homes project as part of its green initiative.

OCR Chief Marketing Officer Emily Ong said the strategic collaboration is a reflection of the Group’s support towards the Public Works Department’s (“JKR”) Strategic Plan 2021-2025, which strives to increase the use of IBS in Malaysia by aiming for all construction projects valued at RM10 million and above to obtain IBS scores of at least 70%.

PRIYA Kuantan, OCR’s first joint-venture affordable homes project with Yayasan Pahang, incorporates Acotec’s IBS technology in its construction process. As an efficient building method that shortens the construction period and ensures better workmanship and finishing quality, Acotec wall panels are the answer to a lower cost structure, reduced dependency on foreign labour and quality affordable housing.

The project is fully sold out with a targeted completion from mid-2022 onwards.

“This is OCR’s first utilisation of IBS components in our landed homes, and this forms part of our ongoing adoption of technology and sustainable building solutions to build quality, value-added homes for our purchasers. At the same time, leveraging IBS technology in the construction process would improve our construction efficiency and at the same time overcome the challenge of labour shortage in the market. This is expected to enhance our ability to honour our commitment of delivering these affordable homes” said Ong.

PRIYA Kuantan is the largest affordable homes scheme in Kuantan, Pahang, with a gross development value of RM166.0 million.

“The benefits of IBS solutions also extend to environmental sustainability, as Acotec’s proprietary wall panels promote circularity by making use of recyclable materials as one of its constituents without compromising on functionality, safety, and practicality. This assures our buyers of a greener home from the onset.”

“As a responsible developer, we are committed to incorporate Environmental, Social and Governance (“ESG”) practices into our operations not only to enhance the value and sustainability of the homes that we build, but also to ensure a more cost-effective way in building it,” she added.

Acotec’s innovative and versatile Aco-Built System™ ensures a customised, hassle-free construction process by utilising precast wall panels that produce high-quality finishes, and ensure easy site management. To minimise wastage, Acotec’s wall panels are also reusable and have been accredited as a ‘Green Label’ product by SIRIM, CIDB, and the Singapore Green Label Scheme.

Tan Kheak Chun, Acotec’s Chief Executive Officer said, “We are thrilled to collaborate with OCR, which we foresee will further strengthen our position in the building construction market. With OCR’s strong delivery track record and project pipeline, we look forward to expanding our offerings and sharing technical expertise with OCR to facilitate a seamless IBS adoption process across its projects moving forward.”

OCR was represented by Chief Marketing Officer Emily Ong during the signing of the strategic collaboration with Acotec, while Acotec was represented by its Chief Executive Officer Tan Kheak Chun.