Sunsuria proposes RM316.84m sale of Sepang land to Amazon Data Services
Sunsuria Bhd has proposed selling a 45.46-acre freehold commercial land parcel in Dengkil, Sepang to Amazon Data Services Malaysia Sdn Bhd for RM316.84 million cash. The group expects a one-off net pro forma gain of RM50.34 million from the disposal, which is subject to shareholder and regulatory ap
PETALING JAYA (Sept 29): Sunsuria Bhd has proposed selling a 45.46-acre parcel of freehold commercial land in Dengkil, Sepang, to Amazon Data Services Malaysia Sdn Bhd for RM316.84 million cash.
Its 99.99%-owned subsidiary, Sunsuria City Sdn Bhd, entered into a conditional sale and purchase agreement with the buyer on Sept 28. The vacant land is proposed for data processing services and infrastructure, according to Sunsuria’s Bursa Malaysia filing on Monday (Sept 28).
The sale price is about 3.2% above the land’s RM307 million market valuation by CBRE WTW Valuation & Advisory Sdn Bhd as at Aug 28. Sunsuria estimates a one-off net pro forma gain of RM50.34 million from the proposed disposal, accounting for the land’s audited net book value of RM163.44 million as at Sept 30, 2025, as well as estimated transaction expenses, development costs and tax.
The group intends to use the proceeds for post-completion works connected to the site, working capital and repayment of bank borrowings. It has yet to determine the exact allocation and expects to fully utilise the proceeds within six months of receiving them in full.
Under the agreement, Sunsuria City must carry out infrastructure works serving the land at its own cost, including access roads, street lighting, external sewerage mains, drainage, water reticulation and telecommunications connections. Release of the balance purchase consideration is subject to payment milestones and, among other things, Sunsuria City’s fulfilment of its obligations, including the transfer of legal title and completion of infrastructure-work milestones.
The proposed disposal requires Sunsuria shareholders’ approval. Other conditions include Selangor state approval for the buyer’s acquisition where applicable, confirmation that Ministry of Economy approval is not required, and Malaysian Data Centre Task Force endorsement for the buyer’s proposed development. Subject to the necessary approvals and completion conditions, Sunsuria expects the disposal to be completed by the second quarter of 2027.
