SD Guthrie, Bumi Assets and YTL Power to develop 1,623-acre industrial park in Selangor

SD Guthrie Bhd has formed a joint venture with Bumi Assets Sdn Bhd and YTL Power International Bhd to develop 1,623 acres of freehold land in Bukit Kerayong, Selangor, into an integrated industrial park. The land will be sold to the joint-venture company for approximately RM933.57 million.

PETALING JAYA (Oct 29): SD Guthrie Bhd has entered into a joint venture with Bumi Assets Sdn Bhd and YTL Power International Bhd to develop approximately 1,623 acres of freehold land in Bukit Kerayong, Selangor, into an integrated industrial park.

As part of the transaction, SD Guthrie will sell the land to the joint-venture company, Bukit Kerayong Industrial Developments Sdn Bhd (BKID), for approximately RM933.57 million, according to a press release on Thursday (Oct 29).

SD Guthrie will hold a 30% equity interest in BKID through its wholly owned subsidiary, SD Guthrie Land Ventures Sdn Bhd. Bumi Assets will hold 35%, while YTL Power will own the remaining 35% through its wholly owned subsidiary, Bukit Kerayong Industrial Venture Sdn Bhd.

The proposed development will comprise a light-to-medium industrial park with commercial components and supporting infrastructure.

SD Guthrie president and group CEO Mohd Haris Mohd Arshad said the transaction would help unlock the long-term value of the group’s landbank. He noted that Bukit Kerayong’s connectivity via the West Coast Expressway and North Klang Valley Expressway, together with its proximity to Port Klang’s Northport and Westports, offered potential to serve demand for industrial and logistics developments.

Bumi Assets representative Datuk Seri Syed Budriz Putra Jamalullail said the partners aimed to attract businesses to establish and expand their operations there, creating jobs and opportunities for local enterprises. YTL Power managing director Datuk Seri Yeoh Seok Hong said the group brought experience in developing and operating power, water, telecommunications and digital infrastructure, alongside its artificial intelligence and cloud computing capabilities.

The release did not disclose the project’s estimated gross development value or development timeline.