PETALING JAYA: SD Guthrie Bhd
has entered into a strategic joint venture with Bumi Assets Sdn Bhd and YTL Power International Bhd (YTL Power) to develop approximately 1,623 acres of freehold land in Bukit Kerayong, Selangor, into an integrated industrial development.
In a statement, the company said the joint venture will be undertaken through Bukit Kerayong Industrial Developments Sdn Bhd (BKID), with SD Guthrie holding a 30% equity interest through its wholly owned subsidiary, SD Guthrie Land Ventures Sdn Bhd (SDGLV).
Bumi Assets Sdn Bhd will hold 35% while YTL Power will hold the remaining 35% through its wholly owned subsidiary, Bukit Kerayong Industrial Venture Sdn Bhd.
As part of the transaction, SD Guthrie will dispose of the land to BKID for approximately RM933.57mil.
SD Guthrie president and group chief executive officer Mohd Haris Mohd Arshad said the transaction represents an important milestone in unlocking the long-term value of the group’s strategic land bank while creating opportunities for sustainable economic growth and development in Selangor.
“The strategic location of Bukit Kerayong, supported by strong connectivity through the West Coast Expressway and North Klang Valley Expressway, and its proximity to Port Klang's Northport and Westports, presents significant potential to serve the rising demand for high-quality industrial and logistics developments,” he said.
The proposed development is expected to contribute to economic activity, generate employment opportunities and support the continued growth of the surrounding communities, said SD Guthrie.
