Tanco Receives HOA For Smart AI Port Project In NS With 98 Year Lease, RM5 Million Monthly Rental
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Tanco Holdings Bhd today announced that its subsidiaries have received a signed Heads of Agreement from Menteri Besar Negeri Sembilan for the development of a Smart AI Container Port in Dickson Bay, Port Dickson.
The agreement, dated 25 November 2025, involves Midports Holdings Sdn Bhd (MHSB), a 79%-owned subsidiary of Tanco, and MBINS Ventures Sdn Bhd (MVSB), which is 80% owned by MHSB. The HOA outlines the rights and obligations of all parties in relation to the development of the port, which will sit on approximately 180 acres of submerged land.
Under the agreement, MBINS will perfect the alienation of the land—free of encumbrances—for the benefit of MVSB and subsequently transfer ownership directly to MVSB for a nominal RM10. MVSB will bear the estimated RM2.71 million land alienation cost as well as title-transfer expenses. MHSB will fund these upfront payments through shareholder advances.
Upon transfer of land ownership to MVSB, MHSB will enter into a 98-year lease to undertake the development and operations of the proposed AI-driven container port.
Key lease terms include:Base rental: RM5 million per month Commencement: The later of (i) three years from the HOA date, or (ii) completion and commissioning of port operations Escalation: 5% increase every five years
As lessee, MHSB—supported by MVSB and MBINS—will undertake the full scope of the project, including preparation, planning, land reclamation, construction, outfitting, commissioning, and eventual port management and operations
Tanco said the HOA positions the group to jointly develop and operate a state-of-the-art Smart AI Container Port in Negeri Sembilan, aimed at supporting industrial growth, enhancing logistics infrastructure, and broadening the group’s business activities and revenue streams.
