BINA mulls compensation for relocated tenants

12 Jun

BINA mulls compensation for relocated tenants

12^th June, 2014

THE Brunei Industrial Development Authority (BINA) will look into the possibility of compensating tenants and businesses that will have to be relocated as part of the government’s move to create “themed” industrial sites.

BINA will look into the possibility of compensating tenants and businesses that will have to be relocated as part of the government’s move to create “themed” industrial sites.

According to BINA’s Acting Director Hj Metassan Hj Abd Salim, tenants which are currently operating at existing sites managed by BINA will have to be relocated according to the designated sites. That or these tenants have to change their line of business upon completion of each BINA site’s masterplan.

Hj Metassan said the cooperation of other agencies will be crucial in ensuring successful implementation of the “themed” industrial sites and the efficient relocation programmes for the tenants.

He added BINA will be talking to relevant agencies to discuss the terms of compensation.

Hj Metassan hinted that the compensation might come in the form of “infrastructure”, but said the plan will “have to be studied further.”

He cited Singapore where the government offers two options for tenants that need to be relocated in another industrial site. Tenants who wish to stay at the same location have to change their business in line with the current site’s theme. Otherwise, tenants have to move to another site.

He said even if the investors are willing to move out without protests, they should be compensated accordingly.

BINA operates industrial sites in Beribi, Serasa, Salar, Lambak Kanan Barat and Kuala Lurah in the Brunei-Muara District, an industrial site in Serambangun, Tutong and also sites in Pekan Belait and Sungai Bera in the Belait district. It also operates an industrial site in Batu Apoi in Temburong.

Acting on recommendations made by Hong Kong-based consultant SQW China Limited and taking examples from other countries, BINA is fomulating a master plan for each site.

Industrial sites will be classified into different ‘themes’ so that each site can provide better and more industry-specific facilities to both local and foreign investors.

One “themed” site in the works is the Beribi industrial site. Due to the high presence of auto-service industries already there, the plan is to rebrand the area as the ‘Beribi Autocentre.’ BINA is also planning to transform Kuala Lurah into a site for ‘green-industries.’

Source: The Brunei Times

BINA mulls compensation for relocated tenants

BINA mulls compensation for relocated tenants

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