Mah Sing Group Bhd has entered into supplemental agreements to revise certain terms relating to its proposed acquisition of freehold land in Kulai, Johor, from Aura Muhibah Sdn Bhd, a subsidiary of Kuala Lumpur Kepong Bhd (KLK). The agreements were signed through Mah Sing’s wholly owned subsidiary, M Industrial Development Sdn Bhd.
In a filing with Bursa Malaysia, the property developer said the supplemental sale and purchase agreement (SPA) and supplemental project management agreement (PMA) were executed to amend specific terms of the transaction, particularly the subdivision arrangement of a portion of the master land.
Under the revised arrangement, the land will now be subdivided into six parcels instead of the two parcels initially planned, or into such other number of parcels as may be mutually agreed upon by the parties. The change was made to facilitate the development planning and implementation of the proposed project.
Following the revision, the total land area involved in the acquisition has been slightly adjusted from 419.15 acres to 419.17 acres. Despite the minor adjustment in land size, the purchase consideration for the acquisition remains unchanged at RM273.87 million. The market value of the land also remains consistent at RM274 million.
Mah Sing had earlier announced the proposed acquisition on Dec 19, 2025, and Feb 16, 2026. The land is intended for an industrial development project with an estimated gross development value (GDV) of RM2.26 billion. The project is expected to support Mah Sing’s strategy of expanding its presence in the industrial property segment, particularly in Johor, which continues to attract strong demand from manufacturing, logistics and technology-related industries.
The company noted that apart from the revisions to the subdivision structure of the land parcels, all other terms and conditions under the original SPA and PMA remain unchanged and continue to be in full force between the respective parties.
The acquisition forms part of Mah Sing’s broader expansion strategy to strengthen its industrial development portfolio while capitalising on Johor’s growing role as a key investment and manufacturing hub in the region.
