image via EdgeProp KUALA LUMPUR (Jan 31): Brace yourselves for a game-changing development as Mah Sing Group Bhd unveils plans to forge ahead with a cutting-edge industrial enclave – Mah Sing Business Park, Sepang. Spanning a sprawling 185 acres, this prime industrial development boasts an estimated gross development value (GDV) of a staggering RM728 million.
The visionary Mah Sing Business Park will be brought to life by Fusion Heights Development Sdn Bhd, a subsidiary of Mah Sing South Sea Industrial Development Sdn Bhd (MSSSID), a subsidiary of Mah Sing holding a 70% stake, as announced in a recent media release.
Premier Land Resources Sdn Bhd, the landowner, has not only granted the development rights for 185 acres but also provided Fusion Heights Development with an exclusive option to acquire an additional approximately 376.65 acres (Option Land) for RM12.50 per square foot within four years of the Sale and Purchase Agreement (SPA). The potential GDV for the entire 561.65 acres skyrockets to a jaw-dropping RM2 billion, incorporating similar groundbreaking development components.
Fusion Heights Development, MSSSID, and the landowner are strategically gearing up to ink a shareholders’ agreement. This entails the landowner subscribing to 20% of the shareholding in Fusion Heights Development, equivalent to 500,002 ordinary shares.
The ambitious industrial development blueprint encompasses tailor-made factories, industrial lots, clusters, semi-detached, and detached factories, specifically designed to accommodate medium and light industrial businesses. The project is poised to lure industry players from the high-tech manufacturing and value-creation manufacturing sectors, enticing them to establish their cutting-edge facilities within this burgeoning hub.
Aligned with the Group’s quick turnaround strategy and contingent upon authorities’ approval, the groundbreaking for Mah Sing Business Park, Sepang is slated for the second half of 2024. The development is anticipated to unfold over three to four years, significantly contributing to the expansion of Mah Sing’s industrial development portfolio and fortifying its competitive stance in Malaysia’s industrial development arena, according to Mah Sing.
Nestled just 10km from Kuala Lumpur International Airport (KLIA), the strategic land enjoys seamless air transportation connectivity. The location is further complemented by the proximity to key logistics hubs, including Cainiao Warehouse by Alibaba Group, Pos Aviation E-Commerce Hub, and DHL Global Forwarding. Additionally, its proximity to ports, with a mere 65km to West Port and 75km to North Port, enhances its strategic significance.
The land's strategic location within the Integrated Development Region in South Selangor (IDRISS) zone aligns seamlessly with the First Selangor Plan 2021-2025. Pioneering a strategic blueprint with an estimated GDV of RM1 trillion, IDRISS is Selangor’s strategic initiative aimed at propelling economic development in Sepang and Kuala Langat districts.
Commenting on the strategic acquisition, Tan Sri Leong Hoy Kum, founder and group managing director of Mah Sing, expressed confidence, stating, “We intend to build a world-class Mah Sing Business Park offering customised factories, as well as industrial lots, clusters, semi-D, and detached factories. Drawing upon our 30 years of successful experience in property development and over 40 years of manufacturing expertise and partnerships with numerous Fortune 500 clients, we are well-positioned to utilise our networks and resources, providing a holistic, all-in-one solution for investors seeking to establish manufacturing facilities in Malaysia.”