Mah Sing Business Park is located 10km from the KLIA and near major logistics players.
PETALING JAYA: Mah Sing Group Bhd (Mah Sing) has acquired 185 acres of prime industrial land in Sepang for the development of Mah Sing Business Park with an estimated development value (GDV) of approximately RM728mil.
Mah Sing announced on Bursa Malaysia on 31 Jan that it has entered a sale and purchase agreement with Premier Land Resources Sdn Bhd for the 185 acres at RM100,732,500 or RM12.50 per sq ft (psf). The acquisition also comes with the option to purchase an additional approximately 376.65 acres for RM12.50 psf within four years of the Sale and Purchase Agreement (SPA). The potential GDV for the entire 561.65 acres is up to RM2bil, encompassing comparable development components.
Mah Sing Business Park will be developed by Fusion Heights Development Sdn Bhd, a subsidiary of Mah Sing South Sea Industrial Development Sdn Bhd (MSSSID), a 70% owned subsidiary of Mah Sing.
Fusion Heights Development, MSSSID and Premier Land Resources intend to enter into a shareholders’ agreement for the subscription by Premier Land Resources of 20% of the shareholding in Fusion Heights Development.
Mah Sing Business Park is planned to be an industrial development comprising customised factories, industrial lots as well as cluster, semi-detached and detached factories catering to medium and light industrial businesses. The development is set to attract industry players from the high-tech manufacturing and value-creation manufacturing sector to set up their facilities here.
It is located just 10km from Kuala Lumpur International Airport (KLIA) and also near major logistics players such as Cainiao Warehouse by Alibaba Group, Pos Aviation E-Commerce Hub and DHL Global Forwarding. It is also located 65km to West Port and 75km to North Port.
In line with the Group’s quick turnaround strategy and subject to authorities’ approval, the development of Mah Sing Business Park, Sepang is expected to commence in the second half of 2024 and to be developed over a span of 3 to 4 years. The acquisition will fuel the growth of Mah Sing’s industrial development portfolio and strengthen its competitiveness in Malaysia’s industrial development landscape.
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