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Mah Sing Group plans to develop a new RM728 million industrial project in Sepang on 185 acres of land comprising factories, industrial land, clusters and stand-alone factories with the aim of attracting high-tech and value-creating manufacturing.
Expected to commence in the second half of 2024 and will take place over a period of three to four years, the Sepang Masing Business Park project will strengthen the Group’s competitiveness in Malaysia’s industrial development sector. Mah Sing holds a 70% stake in the project. The total purchase price of the land is RM100.7 million, with the balance to be paid three months after the completion of the conditions precedent.
The landowner also granted Fusion Heights an option to purchase an additional 376.65 acres of land. The entire 561.65 acres have a potential development value of up to RM2 billion.
Premier Land plans to hold a 20% interest in Fusion Heights through a shareholder agreement.
(Source: nst Image source: freepik)
