KUALA LUMPUR: IJM Land Bhd has formalised a joint venture (JV) with Southern Catalyst Sdn Bhd to develop a RM1.96bil industrial park in Sedenak, within the Johor-Singapore Special Economic Zone (JS-SEZ).
Southern Catalyst is a Ministry of Finance Inc-linked company and master developer of the Southern Catalyst Innovation District in Sedenak.
In a joint statement yesterday, IJM Land and Southern Catalyst said the development has an estimated gross development value of RM1.96bil and is expected to be undertaken over six to eight years.
“Conceived as a future-ready industrial park, the project is designed to support high-value industries aligned with the growth priorities of the JS-SEZ, including advanced manufacturing, biopharmaceuticals, renewable energy and integrated logistics, as well as agricultural technology or agri-tech and food technology,” they said.
The parties said the partnership will be undertaken through a JV company, IJM Land Sedenak Sdn Bhd, in which IJM Land holds a 70% equity stake while Southern Catalyst holds the remaining 30%.
They said the partnership underscored broader cross-border collaboration efforts to accelerate industrial growth within the JS-SEZ corridor.
“By aligning the development with national and regional economic priorities, the project is expected to contribute towards investment inflows, job creation, and the advancement of high-value industries in Johor,” the parties said.
IJM Land chief executive officer Datuk Tony Ling Thou Lung said the strategic partnership marks a significant step in IJM Land’s industrial expansion strategy, enabling the group to participate in a strategically located, master-planned development within a key growth corridor.
“Beyond strengthening our revenue pipeline, the project allows us to build greater depth and capability in the industrial space, while contributing to Johor’s broader ambitions as a regional hub for advanced industries, innovation and cross-border economic activity,” he said.
Southern Catalyst chief operating officer Mohd Shahreza Maswan said Sedenak had strong potential to emerge as a key regional logistics and industrial hub.
“This JV with IJM Land marks a significant milestone in accelerating the development of an integrated, full-chain industrial ecosystem, spanning advanced research and development, smart logistics infrastructure, and next-generation manufacturing capabilities.
“By harnessing our complementary strengths, we aim to establish a new benchmark for sustainable eco-industrial development, attract high-quality global investments, and strengthen Johor’s position as a leading regional gateway for innovation-driven and sustainable economic growth,” he said. — Bernama
