Strategic cooperation: (From left) Leong, Mah Sing group chief executive officer and executive director Datuk Voon Tin Yow, KLK Land managing director Lee Wen Ling and Lee at the signing ceremony to mark the JV between the two parties.
PETALING JAYA: Mah Sing Group Bhd
and Kuala Lumpur Kepong Bhd (KLK), through its wholly-owned subsidiary KLK Land Sdn Bhd, have entered into a joint venture (JV) to acquire and develop 419.15 acres of freehold industrial land in Kulai, Johor which is within the Johor-Singapore Special Economic Zone (JS-SEZ).
In a joint statement, both parties said the land will be developed into MS Industrial Park@Kulai, a strategically planned industrial park catering to future-ready industries.
The project will be undertaken via a JV structure, with Mah Sing and KLK Land holding 60% and 40% equity, respectively.
They added that the land was acquired for roughly RM274mil and, with an estimated gross development value of RM2.26bil, the park will likely become a key industrial hub supporting Johor’s expanding industrial and logistics ecosystem.
Mah Sing’s role will be to spearhead the planning, development and execution of the project.
The proposed park forms part of KLK’s approximately 1011.7ha land in Kulai, earmarked for phased development under a master-planned industrial township incorporating commercial and residential components.
It is also strategically located near key infrastructure such as Senai International Airport (15.8km), the North-South Expressway (10km) and Johor’s major ports.
Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said the focus is to build a well-integrated industrial platform that brings together industry players.
Leong said Mah Sing already has a strong footprint in Johor and has acquired lands for high-rise and landed residential developments there.
“Johor remains a strategic growth area for Mah Sing, with its proximity to Singapore, excellent connectivity, and government-driven initiatives like JS-SEZ and the Rapid Transit System link, making it a prime investment destination,” he said.
Similarly, KLK executive chairman Tan Sri Lee Oi Hian said this project will unlock the potential of its land in Kulai and help build a stronger industrial development portfolio.
Lee added that through the partnership with Mah Sing, they were able to strategically initiate the first phase development, which will unlock and catalyse the broader 2,500-acre master-planned township envisioned for KLK Land.
“We view Kulai and the wider JS-SEZ as an important growth corridor that supports Johor’s evolving industrial landscape and contributes to sustainable economic growth,” he said.
With this acquisition, Mah Sing aims to capitalise on the growing demand for high-specification industrial spaces that support these high-value sectors.
