EcoWorld, SD Guthrie officially begin development of industrial park
PETALING JAYA: Eco World Development Group Bhd (EcoWorld), SD Guthrie Bhd (previously Sime Darby Plantation Bhd ), and NS Corporation Sdn Bhd (NS Corp) have formalised a shareholders agreement yesterday to launch the development of Eco Business Park 7 (EBP 7) in Negeri Sembilan.
This follows a Memorandum of Understanding signed on December 18, 2024, and a sales and purchase agreement (SPA) finalised on April 18, this year.
The agreement establishes Eco Business Park 7 Sdn Bhd as the entity overseeing the project, with EcoWorld holding a 55% stake, SD Guthrie Land Ventures Sdn Bhd (a fully owned subsidiary of SD Guthrie) owning 30%, and NS Corp holding the remaining 15%.
Eco World Project Management Sdn Bhd, another EcoWorld subsidiary, will manage the development.
The development of EBP 7 involves acquiring 1,195 acres of freehold land in Mukim Jimah, Port Dickson, within Parcel C of Malaysia Vision Valley 2.0 (MVV 2.0), a key economic corridor in western Peninsular Malaysia.
In a filing to Bursa Malaysia yesterday, SD Guthrie reiterated that the project aims to create an integrated industrial park with commercial hubs, boasting an estimated gross development value (GDV) of RM2.95bil, featuring industrial lots, pre-built factories, and commercial spaces targeting sectors like aerospace, electrical and electronics, logistics, and biotechnology.
'The industrial hub will offer access to a proposed Nilai-Labu Expressway that will enhance connectivity to major hubs such as Kuala Lumpur International Airport, Port Klang, Nilai, and the west coast via the PLUS Highway, offering connectivity and logistical advantages that are conducive for business growth,' the filing read.
MVV 2.0, launched in December 2018, spans 380,000 acres across Seremban and Port Dickson, divided into six parcels (A-F), and aims to support Greater Kuala Lumpur's growth.
EBP 7 aligns with this vision by promoting sustainable development, attracting local and foreign investments, creating high-value jobs, and boosting Negeri Sembilan's economy.
SD Guthrie said the project, expected to unfold over nine years, supports national initiatives like the New Industrial Master Plan (NIMP) 2030 and the National Energy Transition Roadmap (NETR).
The partnership leverages SD Guthrie's extensive land assets, EcoWorld's expertise in industrial park development, and NS Corp's role as MVV 2.0's state-appointed coordinator.
The project highlights the diversification of SD Guthrie - a major Malaysian landowner with 16 estates, three palm oil mills, and two biogas plants in Negeri Sembilan - into industrial parks and renewable energy.
Meanwhile, EcoWorld, with a 9,825-acre landbank and a RM90bil GDV portfolio, has a strong track record in industrial projects, with 2,415 acres dedicated to such parks and 90% of its developments green-accredited.
The tripartite agreement was signed on April 18 by SD Guthrie group managing director Datuk Mohamad Helmy Othman Basha, EcoWorld president and chief executive (CEO) Datuk Chang Khim Wah, and NS Corp CEO Norazhar Musa, witnessed by notable figures including Negeri Sembilan Chief Minister Datuk Seri Aminuddin Harun, who also chairs NS Corp.
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