KUALA LUMPUR: Mah Sing Group Bhd (Mah Sing) and KLK Land Sdn Bhd, a wholly-owned subsidiary of Kuala Lumpur Kepong Bhd (KLK), have announced a strategic joint venture (JV) to acquire and develop 419.15 acres 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 419.15-acre freehold site into MS Industrial Park @ 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 2,500-acre land in Kulai earmarked for phased development under a master-planned industrial township incorporating commercial and residential components.
Mah Sing group chief executive officer and executive director Datuk Voon Tin Yow signed the agreement on behalf of Mah Sing while KLK Land was represented by its managing director Lee Wen Ling.
Mah Sing 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.
“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 Johor-Singapore Special Economic Zone (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 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 2,500-acre master-planned township envisioned for KLK Land. We view Kulai and the wider Johor-Singapore Special Economic Zone as an important growth corridor that supports Johor’s evolving industrial landscape and contributes to sustainable economic growth.”
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