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- The collaboration will see Mah Sing and KLK Land co-develop the land into MS Industrial Park @ Kulai, a strategically planned industrial park located within the Johor-Singapore Special Economic Zone (JS-SEZ).
KUALA LUMPUR (Dec 19): Mah Sing Group Bhd (Mah Sing) and KLK Land Sdn Bhd, a wholly-owned subsidiary of Kuala Lumpur Kepong Bhd (KLK), today announced a strategic joint venture (JV) to acquire and develop 419.15-acre of prime freehold industrial land in Kulai, Johor.
The collaboration will see Mah Sing and KLK Land co-develop the land into MS Industrial Park @ Kulai, a strategically planned industrial park located within the Johor-Singapore Special Economic Zone (JS-SEZ).
The project will be undertaken via a joint venture structure, with Mah Sing and KLK Land holding 60% and 40% equity, respectively. The land was acquired for approximately RM274 million.
“With an estimated gross development value (GDV) of RM2.26 billion, the development is poised to become a key industrial hub supporting Johor’s expanding industrial and logistics ecosystem,” stated a joint media release by both companies.
Mah Sing will spearhead the planning, development and execution of the project. “This collaboration underscores Mah Sing’s commitment to expanding its industrial property portfolio and aligns with Malaysia’s New Industrial Master Plan 2030 (NIMP 2030), positioning Johor as a pivotal industrial and logistics hub in Southeast Asia,” said Mah Sing.
The project also continues the strategic expansion of KLK Land’s industrial development, following recent launches in Selangor and Perak, and will progressively unlock the value of its larger industrial land bank in Kulai. The site forms part of KLK Land’s approximately 2,500-acre land in Kulai earmarked for phased development under a master-planned industrial township incorporating commercial and residential components.
“This strategic joint venture marks an important milestone for Mah Sing as we expand our footprint in the industrial segment. Our focus is on building a well-integrated industrial platform that brings together anchor industrial players, their suppliers and wider value chain partners,” said Mah Sing founder and group managing director, Tan Sri Leong Hoy Kum
“While technology-enabled and high-growth industries such as data centres, logistics, and other supporting industrial activities form part of this ecosystem, the overarching objective is to foster an integrated industrial environment that creates long-term value, supports Malaysia’s industrial transformation and strengthens Mah Sing’s sustainable growth. We look forward to working closely with KLK to ensure the success of this joint venture,” added Leong.
“Through this partnership with Mah Sing, we are able to strategically initiate the first phase development that will unlock and catalyse the broader 2,500-acre master-planned township envisioned for KLK Land. We view Kulai and the wider Johor-Singapore Special Economic Zone as an important growth corridor that supports Johor’s evolving industrial landscape and contributes to sustainable economic growth,” said KLK executive chairman, Tan Sri Lee Oi Hian.
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