SD Guthrie To Dispose Of Kuala Selangor Land For RM798.31 Mln
KUALA LUMPUR, July 15 (Bernama) -- SD Guthrie Bhd has entered into two conditional sale and purchase agreements (SPAs) to dispose of freehold land in Kuala Selangor for RM798.31 million.
The approximately 1,021.93-acre land within Bukit Kerayong Estate would be sold to Kerayong Development (Land) Sdn Bhd (KDL) and Kerayong Development (Ventures) Sdn Bhd (KDV).
KDL and KDV are wholly owned subsidiaries of Kerayong Development Consortium Sdn Bhd (KDC), a 50:50 joint venture between SD Guthrie Land Ventures Sdn Bhd, a wholly owned subsidiary of SD Guthrie, and Sime Darby Property (Kerayong) Sdn Bhd, a wholly owned subsidiary of Sime Darby Property Bhd (SDP).
In a filing with Bursa Malaysia today, SD Guthrie said the rationale for the proposed transaction is that industrial development forms a key strategic growth area under its new business verticals.
“Leveraging the site’s strategic location within a key logistics corridor supported by major national infrastructure, including the East Coast Rail Link (ECRL) and West Coast Expressway (WCE), the enhanced connectivity is expected to strengthen linkages between ports and industrial hubs, thereby improving logistics efficiency,” it said.
SD Guthrie said the proposed development is further supported by strong infrastructure-driven growth prospects, given its proximity to Port Klang and ongoing port expansion initiatives, which are expected to drive increased industrial activity, improve cargo handling capacity and support long-term land value appreciation.
“Given its scale and strategic positioning, the proposed site provides an opportunity for SD Guthrie together with Sime Darby Property Bhd to undertake large-scale, integrated industrial development, including logistics, manufacturing and supporting facilities, thereby enhancing the group’s long-term growth prospects and portfolio diversification,” it said.
Under the SPAs, approximately 247 acres, comprising Lot 2894 and part of Lot 2896, will be sold to KDL for RM192.95 million, while the remaining approximately 774.93 acres of Lot 2896 will be sold to KDV for RM605.36 million.
The proposed land disposal is subject to, among others, approvals from the Estate Land Board and the Ministry of Economy, and is expected to be completed in the second half of 2026.
Separately, in a joint statement, SD Guthrie president and group chief executive officer (CEO) Mohd Haris Mohd Arshad said the progress underscores the company’s commitment to unlocking value through strategic partnerships.
“The Bukit Kerayong development represents a significant opportunity to catalyse economic growth in the region, support industrial and commercial activities, and create lasting value for stakeholders while aligning with national industrial aspirations,” he said.
Sime Darby Property group managing director and CEO Datuk Seri Azmir Merican said the partnership marks clear progress towards creating a future-ready industrial development by two companies with a shared heritage.
“This next phase moves our partnership from vision to execution, and by integrating SDP's expertise in sustainable master planning with SD Guthrie's strategic landbank, we are building an industrial corridor equipped to meet evolving supply chain demands, attract high-value investments, facilitate significant job creation and reinforce Malaysia's industrial competitiveness,” he said.
-- BERNAMA