KUALA LUMPUR, Dec 19 — Mah Sing Group Bhd has entered into a strategic joint venture (JV) with Kuala Lumpur Kepong Bhd’s unit, KLK Land Sdn Bhd, to acquire and develop 169.62 hectares of freehold industrial land in Kulai, Johor.

In a joint statement today, the companies said the co-development of MS Industrial Park @ Kulai, located within the Johor-Singapore Special Economic Zone (JS-SEZ), will be undertaken via a JV structure, with Mah Sing and KLK Land holding 60 per cent and 40 per cent equity, respectively.

“The land was acquired for approximately RM274 million. With an estimated gross development value of RM2.26 billion, the development is poised to become a key industrial hub supporting Johor’s expanding industrial and logistics ecosystem,” they said.

Mah Sing will spearhead the planning, development and execution of the project, underscoring its commitment to expanding its industrial property portfolio.

Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said the JV marks a key milestone in the group’s expansion into 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,” he said.

He added that Johor remains a strategic growth area for the group due to its proximity to Singapore, strong connectivity and government-led initiatives such as the JS-SEZ and the Rapid Transit System (RTS) Link.

Meanwhile, Kuala Lumpur Kepong executive chairman Tan Sri Lee Oi Hian said the collaboration aligns with KLK Land’s long-term strategy to unlock the value of its land bank in Kulai.

“Through this partnership with Mah Sing, we are able to strategically initiate the first phase of development that will unlock and catalyse the broader 1,011.71-hectare master-planned township envisioned for KLK Land,” he said.

MS Industrial Park @ Kulai is planned as an integrated industrial development, comprising a mix of cluster, semi-detached and detached factories, as well as land designated for warehouses, logistics hubs and data centres. — Bernama