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- EBP 7 is 55% owned by Eco World Development Group Bhd (KL:ECOWLD), 30% by SD Guthrie, and 15% by Negeri Sembilan state agency NS Corporation.
KUALA LUMPUR (Sept 25): The planned RM2.95 billion industrial park in Negeri Sembilan is set to begin development following the completion of the acquisition of 1,195 acres of land in Port Dickson, said SD Guthrie Bhd (KL:SDG) on Thursday.
In a statement, the company said Eco Business Park 7 Sdn Bhd (EBP 7) has completed the acquisition of the freehold land from SD Guthrie for RM572.76 million cash. The transaction comes five months after the sale and purchase agreement was signed on April 18.
EBP 7 is 55% owned by Eco World Development Group Bhd (KL:ECOWLD), 30% by SD Guthrie, and 15% by Negeri Sembilan state agency NS Corporation.
With the deal concluded, EBP 7 will proceed with developing an integrated industrial park with supporting commercial hubs on Parcel C of Malaysia Vision Valley 2.0 (MVV 2.0), the west coast economic corridor of Peninsular Malaysia.
Eco World Project Management Sdn Bhd, a wholly owned subsidiary of EcoWorld, has been appointed as development manager.
Strategically located within MVV 2.0, the industrial park will be connected to major infrastructure and logistics hubsncluding Kuala Lumpur International Airport, Port Klang, Nilai and the PLUS Highway—via the proposed Nilai-Labu Expressway.
MVV 2.0, launched in December 2018, spans 380,000 acres across Seremban and Port Dickson and is designed to complement the growth of Greater Kuala Lumpur.
SD Guthrie said the project is expected to attract local and foreign investments, create high-value jobs and drive Negeri Sembilan’s economic growth.
Shares of SD Guthrie closed two sen or 0.4% higher at RM5.25 on Thursday, valuing the company at RM36.3 billion. EcoWorld slipped one sen or 0.4% to RM2.24, giving the property developer a market capitalisation of RM6.71 billion.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
