Menara Marinara may become Islamic WTC

By BERNAMA

KUALA LUMPUR: The long vacant Menara Marinara in Jalan Tun Razak could become the Islamic World Trade Centre, should the Malaysia OIC Trade Chamber succeed in its plan.

Chamber president and founder Datuk Raja Mohamad Abdullah said that since the chamber was formed in 2004, it had been looking to acquire a commercial building to establish the proposed Islamic World Trade Centre.

Raja Mohamad said the chamber welcomed local and foreign investors to be involved in its efforts to purchase the 37-storey office/retail/serviced apartment building, which is up for sale.

“We are looking to tie up with investors as we are keen to turn the building into a one-stop trade centre for Islamic countries,” he said in an interview here.

The building is owned by Pekeliling Triangle Sdn Bhd, which is under receivership.

Datuk Raja Mohamad Abdullah

The receivers have advertised for expression of interest last week and all offers need to reach the receiver and manager by 5pm on Nov 23.

Construction of Menara Marinara on 0.82ha was completed in 1999.

Raja Mohamad said such a trade centre would also help position Malaysia as the global hub for halal food and Islamic banking and finance as envisaged by the Government.

He said it was time that Islamic countries forged greater trade among them.

Raja Mohamad added that the facility would be a one-stop centre for all OIC (Organisation of Islamic Conference) countries to showcase their products and services and promote business networking.

He said the 57 OIC countries produced various world standard products from cars to leather goods.

However, the lack of exposure and one-stop facilities to showcase these products and services made it difficult for them to penetrate the markets of even fellow OIC countries.

According to Raja Mohamad, the OIC’s 10-Year Programme of Action adopted at its Extraordinary Summit in Makkah Al-Mukarramah in December 2005 sets a goal to raise the level of OIC intra-trade to 20% of world trade during the decade until 2015.

Menara Marinara is owned by Pekeliling Triangle Sdn Bhd which is under receivership.

In this context, he believes the Malaysia OIC Trade Chamber and the proposed Islamic World Trade Centre could play a significant role in facilitating more trade among OIC countries.

“There is so much potential to be tapped … trade is the only way for OIC countries to tackle challenges such as poverty, which is high in many OIC countries, and to improve their living standards,” he added.

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