The joint venture agreement was signed by Mah Sing group chief executive officer and executive director Datuk Voon Tin Yow (second from left) and KLK Land managing director Lee Wen Ling (second from right) and witnessed by Leong (far left) and Oi Hian (far right) in Kuala Lumpur.
KUALA LUMPUR: Mah Sing Group Bhd (Mah Sing) and KLK Land Sdn Bhd, a wholly-owned subsidiary of Kuala Lumpur Kepong Bhd (KLK), announced a strategic joint venture (JV) to acquire and develop 169.6ha of prime freehold industrial land in Kulai, Johor, situated within the Johor-Singapore Special Economic Zone (JS-SEZ).
The collaboration will see Mah Sing and KLK Land co-develop the freehold site into MS Industrial Park in Kulai, a strategically planned industrial park catering to future-ready industries.
The project will be undertaken via a joint venture structure, with Mah Sing and KLK Land holding 60% and 40% equity respectively.
The land was acquired for approximately RM274mil. With an estimated gross development value (GDV) of RM2.26bil, the development is poised to become a key industrial hub supporting Johor’s expanding industrial and logistics ecosystem.
Mah Sing will spearhead the planning, development and execution of the project. This 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.
The project continues the strategic expansion of KLK Land’s industrial development, following recent launches in Selangor and Perak, and will progressively unlock the value of its larger industrial land bank in Kulai. The site forms part of KLK Land’s approximately 1011.7ha land in Kulai earmarked for phased development under a master-planned industrial township incorporating commercial and residential components.
Mah Sing’s founder and group managing director Tan Sri Leong Hoy Kum said, “This strategic joint venture marks an important milestone for Mah Sing as we expand our 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. We look forward to working closely with KLK to ensure the success of this joint venture.”
Leong added: “We have established a strong footprint in Johor over the years and successfully launched multiple townships, including Meridin East, our 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, we have 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.
“Johor remains a strategic growth area for Mah Sing, with its proximity to Singapore, excellent connectivity and government-driven initiatives like the 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.”
KLK’s executive chairman Tan Sri Lee Oi Hian said, “This collaboration is aligned with KLK Land’s long-term strategy to unlock the potential of our land in Kulai and to 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 1011.7ha 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.”
MS Industrial Park in Kulai, which is strategically located within proximity to key infrastructure such as the Senai International Airport (15.8km), the North-South Expressway (10km) and Johor’s major ports, will be transformed into a modern industrial park.
The project is planned to be an integrated industrial development comprising a mix of cluster factories, semi-detached factories, detached factories, vacant industrial land for warehouses, logistics hubs and data centres.
The development is designed to support a broad spectrum of industrial and technology-driven activities, including advanced manufacturing, logistics, and data centres, among others.
Johor is a prime destination for industrial investments, benefiting from its proximity to Singapore, strong connectivity and government-led initiatives aimed at positioning Malaysia as a global manufacturing and logistics hub.
The state’s industrial sector has been bolstered by significant foreign direct investments (FDIs), particularly in the electronics, semiconductor, and renewable energy industries.
With this acquisition, Mah Sing aims to capitalise on the growing demand for high-specification industrial spaces that support these high-value sectors.
The development stands to benefit from the JS-SEZ, which continues to drive regional growth and strengthen cross-border collaboration.
As highlighted in the Budget 2026, the JS-SEZ has already attracted RM66.1bil in investments, comprising RM37.1bil recorded in the first half of 2025 and RM29bil in new investor commitments.
The continued development of JS-SEZ will enhance regional connectivity, boost high-value investments and position Johor as a key growth engine within the southern economic corridor.
Complementing this, the upcoming RTS Link between Johor Baru and Singapore will further improve accessibility and increase demand for industrial logistics facilities in Johor.
MS Industrial Park in Kulai is expected to generate significant economic benefits, including job creation and opportunities for local businesses.
The development will create a dynamic ecosystem that supports industries such as e-commerce, high-value manufacturing, and logistics, reinforcing Johor’s position as a key industrial hub in Asean.
The project is strategically positioned to offer seamless connectivity to key transportation hubs and major highways, making it an ideal choice for businesses looking for efficient logistics and distribution solutions.
