SD Guthrie pairs RM933.57 million land sale with Bukit Kerayong industrial JV
Bumi Assets and YTL Power will each own 35 per cent of the venture, while SD Guthrie will hold 30 per cent.
SD Guthrie Bhd will receive RM933.57 million from selling 657.09 hectares in Bukit Kerayong, Selangor, to Bukit Kerayong Industrial Developments (BKID). It will also join Bumi Assets Sdn Bhd and YTL Power International Bhd in developing an industrial park on the land, the companies said.
The partners said their plans cover light-to-medium industrial uses, alongside commercial space and infrastructure to support the development. BKID will serve as the joint venture vehicle.
SD Guthrie's 30 per cent interest will be held by SD Guthrie Land Ventures Sdn Bhd, its wholly owned subsidiary. Bumi Assets will own 35 per cent, while YTL Power's 35 per cent interest will be held through Bukit Kerayong Industrial Venture Sdn Bhd, also a wholly owned subsidiary.
In its Bursa Malaysia filing, SD Guthrie put its investment in the venture at up to RM101.12 million. This comprises RM3 million for equity and up to RM98.12 million in short-term advances to fund the land purchase and associated costs.
Bumi Assets representative Datuk Syed Budriz Putra Jamalullail Syed Amir Abidin Jamalullail said the partners wanted to draw businesses to set up or expand locally, generating employment and opportunities for enterprises along the supply chain.
