KUALA LUMPUR: Mah Sing Group Bhd is set to develop MS Industrial Park @ Kulai, a new integrated industrial development with an estimated GDV of RM2.26 billion, after shareholders approved the acquisition of approximately 419.17 acres of freehold land in Kulai at the group’s EGM recently.
MS Industrial Park @ Kulai 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 development expertise, execution capabilities and market understanding with KLK Land’s track record and strong sustainability focus, supporting the advancement of sustainable industrial development in Malaysia.
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 million by Knight Frank Malaysia Sdn Bhd.
MS Industrial Park @ Kulai builds on Mah Sing’s established presence in Johor, where the group has successfully delivered residential townships and industrial developments with a cumulative GDV of approximately RM4.47 billion since entering the Johor market in year 2000.
Today, Johor remains one of Mah Sing’s most important growth markets, with ongoing developments including M Grand Minori, M Minori, Meridin East township and the upcoming M Tiara 2 and Tiara Hills, representing an estimated development value of approximately RM11.62 billion.
With MS Industrial Park @ Kulai, Mah Sing’s total landbank will increase to approximately 2,682.51 acres, providing the group with a stronger platform to pursue future residential and industrial growth opportunities.
Mah Sing founder and group managing director Tan Sri Leong Hoy Kum, said, “We are grateful for the strong support and confidence shown by our shareholders. Their approval reflects a shared conviction that MS Industrial Park @ Kulai is a strategically important development that will strengthen Mah Sing’s industrial portfolio while creating sustainable long-term value for our shareholders.”
Subject to the relevant approvals, MS Industrial Park @ Kulai is planned to comprise a diversified mix of cluster, semi-detached and detached factories. A key feature of the masterplan is the inclusion of vacant industrial land parcels ranging from approximately 1 acre to 8 acres, providing the flexibility to accommodate customised industrial facilities, logistics hubs and potential data centre developments.
The diversified product is what differentiates MS Industrial Park @ Kulai from conventional industrial parks. It ensures the development remains resilient across different market cycles by serving a broad spectrum of industrial users, from small and medium enterprises to multinational corporations, thereby creating a vibrant and sustainable industrial community.
Designed as an integrated industrial ecosystem, the development will serve a broad range of users, including manufacturers, supporting industries, logistics providers, warehousing operators and technology-driven businesses.
Strategically located within Iskandar Malaysia, the development enjoys excellent connectivity to Senai International Airport, the Port of Tanjung Pelepas, Johor Port, the North-South Expressway, Senai-Desaru Expressway and the Second Link to Singapore, providing businesses with seamless access to regional and international markets.
MS Industrial Park @ Kulai is well positioned to benefit from Johor’s continued emergence as one of Southeast Asia’s leading investment destinations. The state continues to attract significant investments across advanced manufacturing, electronics, semiconductors, renewable energy, logistics and technology industries, supported by structural catalysts including the JS-SEZ and the upcoming Johor Bahru-Singapore Rapid Transit System Link, which is expected to enhance cross-border connectivity and facilitate greater economic activity.
Mah Sing believes MS Industrial Park @ Kulai is well positioned to meet growing demand from multinational corporations, local industrialists and technology companies seeking scalable industrial solutions within the Southern Corridor.
