MGB targets first KTIP anchor tenant in 2027 after MIP support

MGB Bhd aims to secure its first anchor tenant for the 1,007-acre Kertih Terengganu Industrial Park (KTIP) in 2027, after receiving support under MIDA's Managed Industrial Park framework. The park, the first on Malaysia's East Coast with MIP status, is initially marketing about 500 acres to investor

PETALING JAYA (Sept 24): MGB Bhd is targeting its first anchor tenant for Kertih Terengganu Industrial Park (KTIP) in 2027, as it seeks investors for an initial area of about 500 acres following support under the Malaysian Investment Development Authority’s (MIDA) Managed Industrial Park (MIP) framework.

MGB said the 1,007-acre park is the first on Malaysia’s East Coast to receive MIP support. The company has also formalised a collaboration with MIDA to promote KTIP to domestic and international investors and facilitate enquiries through the agency’s investment promotion network.

MIDA has proposed several potential anchor investors for the initial area, according to remarks made on Thursday (Sept 24) during KTIP’s official media launch. MGB expects to engage with them before selecting a first project. Development is expected to be tailored to occupiers’ requirements, although the extent of built-to-suit work has yet to be determined.

Securing a commitment remains the next commercial test. MGB and its appointed investment adviser, the Advanced Manufacturing and Robotics Accelerator Centre of Excellence (AMRACE), said KTIP had no confirmed investors as of Thursday and that development would progress in line with investor demand.

MGB group executive chairman Tan Sri Lim Hock San said MIP support would strengthen KTIP’s appeal as a managed industrial destination. MIDA investment promotion executive director Faizal Jalaludin said the agency would help promote the park and facilitate investor enquiries.

KTIP offers a 99-year land tenure and obtained planning permission in 2025, according to MGB. The park is being developed by MGB, a subsidiary of LBS Bina Group Bhd (KL:LBS), with Terengganu state investment interests through TI Properties Sdn Bhd.

MGB named Arkema Thiochemicals Sdn Bhd and CJ Bio Malaysia Sdn Bhd as investors at KTIP when it announced the project in 2022, and also referred to a proposed Gevo plant. The company has not clarified how those earlier announcements relate to the area now being marketed.