MPI completes RM140m sale of Bayan Lepas industrial properties to Open DC PE2 Asset
Malaysian Pacific Industries Bhd (MPI) has completed the RM140 million sale of two leasehold industrial parcels and buildings in Bayan Lepas, Penang, to Open DC PE2 Asset Sdn Bhd. The properties, spanning about 10 acres, were sold after Dynacraft Industries ceased manufacturing leadframes.
PETALING JAYA (Oct 26): Malaysian Pacific Industries Bhd (MPI) has completed the RM140 million sale of two leasehold industrial parcels and their buildings in Bayan Lepas, Penang, to Open DC PE2 Asset Sdn Bhd.
In a Bursa Malaysia filing on Friday (Oct 23), the semiconductor packaging and testing group said its wholly-owned subsidiary Dynacraft Industries Sdn Bhd had completed the disposal. Dynacraft entered into the conditional sale and purchase agreement on Feb 12, 2025.
The properties have a combined land area of about 10 acres at Nos 15 and 8, Medan Bayan Lepas, Technoplex, in Mukim 12, Barat Daya district. Their leases expire on Jan 6, 2070.
In its February 2025 announcement, MPI said the properties were no longer needed for business operations after Dynacraft ceased manufacturing leadframes. The sale would enable the subsidiary to realise its investment. MPI had then estimated a net disposal gain of RM99.2 million, based on the properties’ net book value of RM26.2 million as at June 30, 2024, and estimated tax and expenses of RM14.6 million. The completion announcement did not disclose the final gain.
The properties were valued at RM132 million by CBRE WTW Valuation & Advisory Sdn Bhd in reports dated July 11, 2024. The sale price was negotiated on a willing buyer-willing seller basis, taking the valuations into account.
Under the proceeds allocation proposed in February 2025, Dynacraft planned to use RM125.4 million for distribution to MPI and/or placement with financial institutions, with RM14.6 million earmarked for estimated tax and disposal expenses. The original filing identified the buyer as a wholly-owned subsidiary of Open DC Sdn Bhd and stated that the buyer was principally involved in buying, selling, renting and operating self-owned or leased real estate.
On July 22, 2026, MPI announced that Dynacraft had agreed to the buyer’s request to extend the completion deadline from July 30 to Oct 30, 2026.
