The signing ceremony was witnessed by Mah Sing founder and group managing director Tan Sri Leong Hoy Kum (far left) and KLK executive chairman Tan Sri Lee Oi Hian (far right). Signing the agreement are Mah Sing group CEO and executive director Datuk Voon Tin Yow (centre, left) and Lee Wen Ling, managing director of KLK Land.
KUALA LUMPUR: Mah Sing Group Bhd
and Kuala Lumpur Kepong Bhd's (KLK) subsidiary KLK Land Sdn Bhd have formed a strategic joint venture to acquire and develop a 419.15-acre tract of freehold industrial land in Kulai, Johor, within the Johor-Singapore Special Economic Zone (JS-SEZ).
According to a joint statement from the developers, the site, which was acquired for RM274mil, is a part of KLK Land's 2,500 acres in Kulai that have been earmarked for phased development under a master-planned industrial township.
The project, named MS Industrial Park @ Kulai, will have an estimated gross development value (GDV) of RM2.26bil.
Mah Sing will hold 60% of the joint venture undertaking the project, while Kuala Lumpur Kepong will own the remaining 40%.
According to the statement, Mah Sing will spearhead the planning, development and execution of the project. It said the 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.
For Mah Sing, the project serves to widen its 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.
"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," said Mah Sing.founder and group managing director Tan Sri Leong Hoy Kum.
He added that Mah Sing has established a strong footprint in Johor over the years with the successful launches of multiple townships including Meridin East, the largest township in the southern region, as well as Sierra Perdana, Sri Pulai Perdana, Austin Perdana, and Mah Sing i-Parc industrial parks.
For the past two years, the group has also acquired lands for high-rise and landed residential developments in Johor, such as M Grand Minori, M Minori, M Tiara, M Tiara II, and Tiara Hills.
According to Leong, Johor remains a strategic growth area for Mah Sing, with its proximity to Singapore, excellent connectivity, and government-driven initiatives like the Johor-Singapore Special Economic Zone (JS-SEZ) and the Rapid Transit System (RTS) Link, making it a prime investment destination.
"This latest industrial project aligns with the Group’s vision of contributing to Johor’s rise as a regional industrial and logistics powerhouse," he said.
Meanwhile, KLK executive chairman Tan Sri Lee Oi Hian said the collaboration is aligned with the group's long-term strategy to unlock the potential of its land in Kulai and build a stronger industrial development portfolio.
"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.”
