SD Guthrie Sells Land For RM814 Million, Forms JV With EcoWorld, Johor PDT For Industrial Park Project
SD Guthrie Berhad has announced two major land disposals and joint-venture agreements with Eco World Development Group Berhad and key state agencies in Johor, namely Permodalan Darul Ta’zim and Negeri Sembilan, paving the way for large-scale industrial park developments in both states.
The group’s wholly-owned subsidiary SD Guthrie Land Ventures Sdn Bhd (SDGLV) signed a Subscription and Shareholders’ Agreement today with Permodalan Darul Ta’zim Sdn Bhd (PDT) and EcoWorld to jointly participate in Eco Business Park 8 Sdn Bhd (EBP8). This will facilitate the development of Eco Business Park VIII in Kulai, Johor.
Concurrently, SD Guthrie also entered into a conditional sale and purchase agreement (SPA) with EBP8 for the disposal of approximately 941.821 acres of freehold land in Kulai for RM814.78 million
The Johor land, located within the Johor–Singapore Special Economic Zone (JSSEZ), will be transformed into an integrated industrial development featuring industrial lots, ready-built facilities and commercial components.
Eco World Project Management Sdn Bhd will serve as development manager. Under the SSA, EBP8’s shareholding structure will be: EcoWorld – 65% SD Guthrie Land Ventures – 25% PDT – 10%
Shareholders will progressively inject capital of up to RM10 million into EBP8 according to their respective stakes. SD Guthrie will fund its portion using internal resources.
SD Guthrie also reiterated a separate conditional SPA signed earlier on 18 April 2025 for the disposal of 1,195.346 acres of freehold land in Port Dickson, Negeri Sembilan to Eco Business Park 7 Sdn Bhd (EBP7). SDGLV, NS Corporation and EcoWorld are parties to a related share subscription agreement for EBP7.
The proposed business park in Kulai—Eco Business Park VIII—is planned for rollout over about 10 years and carries an estimated preliminary gross development value (GDV) of RM3.75 billion..
