PETALING JAYA: SD Guthrie Bhd
had inked a joint venture agreement with Sime Darby Property Bhd (SDP) to develop up to 2,000-acres of land in Carey Island, Selangor into an industrial and logistics hub.
SD Guthrie, which owns 79% of the island, or 28,646 acres, said the project will be formalised through a special purpose vehicle, with Permodalan Nasional Bhd to nominate the chairman. Both, SD Guthrie and SDP are strategic investee companies of the fund management company.
The group said the development aims to transform Carey Island into a leading industrial and logistics hub that will coexist with the integrated palm oil business on the island as well as complement the existing operations at Westport and Northport in Port Klang.
The site’s proximity to the South Klang Valley Expressway (SKVE) and North-South Expressway is expected to enhance its appeal as a logistics hub.
“The port will thus be well-positioned to compete with regional ports in Singapore, Thailand, and Vietnam, giving a boost to Malaysia’s aspirations to become a logistics powerhouse in the region.
“Combined with the thriving plantation business, the new development on Carey Island will stimulate economic growth, generate employment opportunities and uplift the local economy, while preserving the valuable heritage elements of the site,” it said in a statement.
SD Guthrie stated that the site also offers scalability for large-scale facilities and aligns with national development plans under the Ekonomi Madani Framework.
Further announcements will be made as material developments occur.
“We laud and greatly support this joint venture between SD Guthrie and SDP, which aligns with national aspirations and GEAR-uP initiatives by the Government in catalysing domestic investments. This collaboration between PNB's two strategic companies will provide a boost towards the sustainable development of this high potential area as well as help bolster further Malaysia's economic and industrialisation growth,” PNB president & group chief executive Datuk Abdul Rahman Ahmad said.
SD Guthrie operates two estates and palm oil mills on the island, all of which are certified to the highest sustainability standards in the world. Also on the island are a kernel crushing plant, a biodiesel plant, research and development facilities, a robotics and innovation centre, and a nursery.
Palm oil produced on Carey Island is processed in two large refineries located nearby in Langat and Port Klang, which serve customers from around the world. There are also 14 historical buildings on Carey Island that are listed as heritage sites by Jabatan Warisan Negara, as well as a large bio-diversity park and sensitive mangrove ecosystems that are maintained by SD Guthrie.
Combined with the thriving plantation business, the new development on Carey Island will stimulate economic growth, generate employment opportunities and uplift the local economy, while preserving the valuable heritage elements of the site.
SD Guthrie’s group managing director Datuk Mohamad Helmy Othman Basha said the group support the Government’s aspirations to accelerate the growth of international trade and cater to the demand for innovative industrial facilities.
“Carey Island has been identified by the Government as the new site for a world-class port due to its suitable and strategic location near Port Klang, and proximity to Pulau Indah. Additionally, the island is conveniently connected to the city via the SKVE which integrates with the North-South Expressway, ensuring accessibility. The highways and connectivity offer tremendous potential for the area to grow into an industrial and logistics hub, while enabling the thriving plantation business in the area to continue,” Mohamad Helmy said.
Meanwhile, Sime Darby Property group managing director & chief executive officer Datuk Seri Azmir Merican said: “We are excited to partner with SD Guthrie on this timely opportunity to unlock value in Carey Island as a dynamic port and advance the nation’s aspirations of becoming a regional logistics and economic hub. The collaboration allows us to begin master planning and designing a future-ready industrial ecosystem that will serve the needs of businesses and communities for years to come, in line with our Purpose to be a Value Multiplier for people, businesses, economies and the planet.”
