PETALING JAYA: Gamuda Bhd
is acquiring four plots of freehold, agricultural land measuring 389 acres in Port Dickson, Negri Sembilan from West Synergy Sdn Bhd for RM424.4mil.
Gamuda’s indirect subsidiary, Gamuda DC Infrastructure Sdn Bhd, signed a sale and purchase agreement with West Synergy Sdn Bhd for the deal.
West Synergy is a 60%-owned indirect subsidiary of MUI Properties Bhd (MUIP).
In a filing with Bursa Malaysia, Gamuda said the proposed acquisition of the land is intended for development in relation to cloud and data centre infrastructure in state.
“The land acquisition shall be funded by internally generated funds.
“The proposed land acquisition will not have material effect on share capital and substantial shareholders’ shareholdings, net assets per share and gearing of the company’s group of companies,” Gamuda said in its filing.
Barring unforeseen circumstances, Gamuda said the acquisition is expected to be completed by the end of July 2025.
“The acquisition is not subject to the approval of the shareholders of the company,” it said.
Meanwhile, MUIP said the disposal is a major step forward in the group’s ongoing initiative to monetise its land and investment property.
“The sale proceeds will, among others, enable us to expand our new holdings of land for further growth and long-term sustainability.”
MUIP noted that the land, located in Springhill Industrial Park, Bandar Springhill, was acquired by Gamuda for its High Tech Digital Infrastructure Hub.
Bandar Springhill, which straddles the North-South Highway and is within a half hour’s driving distance to Seremban and the Kuala Lumpur International Airport, is sited within Malaysia Vision Valley 2.0, which has been planned to elevate the country’s digitalisation and development of digital infrastructure.
“The sale is expected to establish Springhill as a hub for digital infrastructure and complementary developments. It will also mark a new chapter for the town in enhancing property values and energising commercial and retail activities,” said MUIP.
