Mah Sing Group Berhad announced that it is set to develop MS Industrial Park @ Kulai, a new integrated industrial development with an
estimated Gross Development Value (GDV) of RM2.26 billion, after shareholders approved the acquisition of approximately 419.17 acres of freehold land in Kulai at the Group’s Extraordinary General Meeting (EGM).
The project will be undertaken by M Industrial Development Sdn Bhd, a 60%- owned subsidiary of Mah Sing, with KLK Land Sdn Bhd holding the remaining 40% equity interest. The partnership combines Mah Sing’s proven development expertise, execution capabilities and strong market understanding with KLK Land’s proven track record and strong sustainability focus, the strategic partnership is expected to advance sustainable industrial development in Malaysia. Together, both partners aim to deliver a high-quality industrial development that not only meets market demand but also supports Malaysia’s aspirations to attract higher-value investments and strengthen its industrial competitiveness.
The approved land acquisition with a purchase consideration of RM273.87 million, was concluded on a willing buyer-willing seller basis and reflects fair market value, supported by an independent valuation of RM274.0 million by Knight Frank Malaysia Sdn Bhd.
