Mah Sing signs supplemental agreements for Johor land acquisition

KUALA LUMPUR (March 13): Mah Sing Group Bhd's (KL:MAHSING) subsidiary M Industrial Development Sdn Bhd has entered into supplemental agreements to amend certain terms related to its proposed acquisition of freehold land in Kulai, Johor, from Kuala Lumpur Kepong Bhd’s (KL:KLK) unit Aura Muhibah Sdn Bhd.

Among others, the total land area has been varied from 419.15 acres to 419.17 acres, but the purchase consideration of RM273.87 million remains unchanged, the property developer said in a filing with Bursa Malaysia on Thursday.

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Mah Sing said the supplemental sale and purchase agreement (SPA) and supplemental project management agreement (PMA) were signed yesterday to vary the subdivision arrangement of part of the master land.

The subdivision would be changed to six parcels from two parcels previously, or such other number of parcels as may be mutually agreed by the parties involved, it said.

Following the variation, the total land area has been slightly adjusted to 419.17 acres. The market value of the land remains at RM274 million.

The land acquisition was previously announced on Dec 19, 2025 and Feb 16, 2026, and is expected to support an industrial development with an estimated gross development value of RM2.26 billion.

Save for the variations in the parcel subdivision, all other provisions of the SPA and PMA remain unchanged and in full force between the respective parties.

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