The Securities Industry Development Centre (SIDC) & Securities Commission (SC) Building Expected Completion By Middle 1998

Kuala Lumpur, 7 May 1996

Deputy Prime Minister, Dato’ Seri Anwar Ibrahim officiated the ground breaking ceremony for the construction of the new SIDC and SC Building held at Persiaran Bukit Kiara today.

The construction of the new building follows the establishment of SC over three years ago and the expansion of both the SC’s and SIDC’s roles and scope of operations in contributing towards the growth of the capital market. The building will house the SC’s offices and SIDC’s training facilities.

The RM205 million building will be built on a 4-acre site in Bukit Kiara. The total built-up area planned for the building will be 850,000 sq ft. Out of this, 400,000 sq ft will be allocated for parking space which can accomodate more than 900 cars. The rest of the space will be designed for the SC and the SIDC. The SIDC will occupy two levels which will be opened to the public. Information resources centre, technology gallery, cafetaria, surau, classrooms of different sizes, conference hall designed to seat at least 800 people, auditorium for 400 people, are amongst the facilities that will be provided for both staff and public. Designed to use the most up-to-date technology and sophisticated teaching and learning aids, the SIDC floors hope to become an outstanding training and development centre. The SC will occupy three floors above the entrance level. Other than office space and meeting rooms, SC staff will be able to enjoy sports facilities. A creche for 80 children will be provided for SC staff as well.

Chairman, Securities Commission, Dato’ Dr Mohd Munir Abdul Majid said, "The building cost is estimated at RM205 million, inclusive of ‘Intelligent Building System’. Without the ‘Intelligent Building System’, the cost will be RM189 million. With the ‘Intelligent Building System’, the overall cost per sq ft will be about RM240, the cost for SC office space being RM228 per sq ft and that for SIDC facilities being RM259 per sq ft. We think the cost is reasonable against what is being provided and compared with other recent projects."

The building is targeted for completion by middle of 1998.


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