MGB Bhd is targeting 2027 to secure and announce the first anchor tenant for the Kertih Terengganu Industrial Park (KTIP), with the Malaysian Investment Development Authority (MIDA) proposing several potential investors for the initial roughly 500 acres of the development.
MGB Group Executive Chairman Tan Sri Ir Dr Lim Hock San said infrastructure plans for the industrial park have already secured the necessary state approvals, allowing the group to move towards engaging potential anchor investors.
He said MIDA is currently putting forward several prospective anchors for KTIP, with MGB expected to begin direct engagements before selecting the first project.
“Once an investor’s business requirements are finalised, the development is expected to proceed on a built-to-suit basis.
“Whether or not all of it will be built to suit, I think as we go along, this picture will evolve,” Lim shared, while adding that the eventual value of the park could vary depending on the level of customisation required by individual investors.
While Lim has yet to provide a firm completion date for the first phase, the development for KTIP is expected to progress in line with tenant requirements, with securing the first anchor investor in 2027 remaining the immediate priority.
Previously, MGB had identified Arkema Thiochemicals Sdn Bhd and CJ Bio Malaysia Sdn Bhd as investors at KTIP when the development was launched in 2022.
At the time, the group also said US-based biochemical company Gevo was developing a US$500 million, or approximately RM2.1 billion, plant at KTIP. The industrial development itself was launched with an estimated gross development value of about RM680 million.
Those previously disclosed investments are separate from the new anchor tenant MGB is targeting for the initial roughly 500-acre development area under its latest investment promotion push with MIDA.
Spanning about 1,007 acres in Kertih, Terengganu, KTIP offers a 99-year land tenure and obtained its planning permission approval in 2025.
Meanwhile, he highlighted that MGB has also formalised its collaboration with MIDA to promote the industrial park to domestic and international investors, tapping the agency’s investment promotion network to facilitate investor enquiries and engagements.
The industrial park has also received MIDA support under the Managed Industrial Park (MIP) framework, making it the first MIP-supported industrial park on Malaysia’s East Coast.
Commenting on the MIP support, Lim said the recognition further strengthens KTIP’s positioning as a professionally managed and investor-ready industrial destination, supported by its focus on infrastructure, business competitiveness, environmental sustainability and operational readiness.
