~Strategic industrial development strengthens Mah Sing’s presence in the Johor-Singapore Special Economic Zone and expands its industrial growth platform~
Kuala Lumpur, 22 July 2026 – Mah Sing Group Berhad (“Mah Sing” or the “Group”) is set to develop MS Industrial Park @ Kulai, a new integrated industrial development with an estimated Gross Development Value (GDV) of RM2.26 billion, after shareholders approved the acquisition of approximately 419.17 acres of freehold land in Kulai at the Group’s Extraordinary General Meeting (EGM).
The project marks another milestone in Mah Sing’s industrial growth strategy, strengthening its presence within the Johor-Singapore Special Economic Zone (JS-SEZ) and positioning the Group to capture rising demand from advanced manufacturing, logistics, technology and digital infrastructure industries.
MS Industrial Park @ Kulai will be undertaken by M Industrial Development Sdn Bhd, a 60%-owned subsidiary of Mah Sing, with KLK Land Sdn Bhd holding the remaining 40% equity interest. The partnership combines Mah Sing’s proven development expertise, execution capabilities and strong market understanding with KLK Land’s proven track record and strong sustainability focus, the strategic partnership is expected to advance sustainable industrial development in Malaysia. Together, both partners aim to deliver a high-quality industrial development that not only meets market demand but also supports Malaysia’s aspirations to attract higher-value investments and strengthen its industrial competitiveness.
The approved land acquisition with a purchase consideration of RM273.87 million, was concluded on a willing buyer-willing seller basis and reflects fair market value, supported by an independent valuation of RM274.0 million by Knight Frank Malaysia Sdn Bhd.
Strengthening Mah Sing’s Growth Platform
MS Industrial Park @ Kulai builds on Mah Sing’s established presence in Johor, where the Group has successfully delivered residential townships and industrial developments with a cumulative GDV of approximately RM4.47 billion since entering the Johor market in year 2000.
Today, Johor remains one of Mah Sing’s most important growth markets, with ongoing developments including M Grand Minori, M Minori, Meridin East township and the upcoming M Tiara 2 and Tiara Hills, representing an estimated development value of approximately RM11.62 billion.
The new industrial park further strengthens Mah Sing’s development pipeline while expanding its industrial footprint within the JS-SEZ, complementing the Group’s established quick-turnaround business model with a high-quality industrial offering designed to meet evolving market demand.
With MS Industrial Park @ Kulai, Mah Sing’s total landbank will increase to approximately 2,682.51 acres, providing the Group with a stronger platform to pursue future residential and industrial growth opportunities.
Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum, said, “We are grateful for the strong support and confidence shown by our shareholders. Their approval reflects a shared conviction that MS Industrial Park @ Kulai is a strategically important development that will strengthen Mah Sing’s industrial portfolio while creating sustainable long-term value for our shareholders. Johor is fast emerging as one of Southeast Asia’s most attractive investment destinations, supported by the JS-SEZ, stronger cross-border connectivity and growing investments into high-value industries. Building on our proven track record in the state and together with our strategic partner KLK Land, we are confident that MS Industrial Park @ Kulai will attract quality investments while contributing positively to Mah Sing’s future earnings and growth.”
A Future-Ready Industrial Park
Subject to the relevant approvals, MS Industrial Park @ Kulai is planned to comprise a diversified mix of cluster, semi-detached and detached factories. A key feature of the masterplan is the inclusion of vacant industrial land parcels ranging from approximately 1 acre to 8 acres, providing the flexibility to accommodate customised industrial facilities, logistics hubs and potential data centre developments.
The diversified product is what differentiates MS Industrial Park @ Kulai from conventional industrial parks. It ensures the development remains resilient across different market cycles by serving a broad spectrum of industrial users, from small and medium enterprises to multinational corporations, thereby creating a vibrant and sustainable industrial community.
Designed as an integrated industrial ecosystem, the development will cater to a wide spectrum of industrial users, including manufacturers, supporting industries, logistics providers, warehousing operators and technology-driven businesses.
Strategically located within Iskandar Malaysia, the development enjoys excellent connectivity to Senai International Airport, the Port of Tanjung Pelepas, Johor Port, the North-South Expressway, Senai-Desaru Expressway and the Second Link to Singapore, providing businesses with seamless access to regional and international markets.
Positioned for Long-Term Industrial Growth
MS Industrial Park @ Kulai is well positioned to benefit from Johor’s continued emergence as one of Southeast Asia’s leading investment destinations. The state continues to attract significant investments across advanced manufacturing, electronics, semiconductors, renewable energy, logistics and technology industries, supported by structural catalysts including the JS-SEZ and the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link, which is expected to enhance cross-border connectivity and facilitate greater economic activity.
Kulai has also emerged as an increasingly attractive industrial location, underpinned by improving infrastructure, expanding industrial activities and growing investor confidence. Industrial land accounted for the largest share of land transaction value in Kulai in 2025, reflecting healthy demand from businesses seeking well-connected industrial sites capable of supporting future expansion.
Against this backdrop, Mah Sing believes MS Industrial Park @ Kulai is well positioned to meet growing demand from multinational corporations, local industrialists and technology companies seeking scalable industrial solutions within the Southern Corridor.
As industrial demand continues to evolve alongside regional supply chain shifts and increasing investment into high-value industries, MS Industrial Park @ Kulai is expected to strengthen Mah Sing’s industrial portfolio, enhance its long-term earnings potential and create sustainable value for shareholders.
Barring unforeseen circumstances, the acquisition of MS Industrial Park @Kulai is expected to be completed in the fourth quarter of 2026, with development of MS Industrial Park @ Kulai targeted to commence thereafter.
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