SD Guthrie ups stake in Johor industrial park JV to 45%

PETALING JAYA: SD Guthrie Bhd is increasing its stake in Eco Business Park 8 Sdn Bhd (EBP8) to 45% (from 25%), matching the shareholding of Eco World Development Group Bhd (EWDG), which is paring down its stake from 65%.

Meanwhile, Permodalan Darul Ta’zim Sdn Bhd (PDT) is maintaining its 10% interest in the venture.

Eco Business Park 8 is a joint venture between PDT, SD Guthrie Bhd’s wholly owned subsidiary, SD Guthrie Land Ventures Sdn Bhd (SDGLV) and EWDG.

In a filing with Bursa Malaysia, the world’s largest palm oil producer by acreage said under the new shareholding agreement, EBP8 will comprise up to seven directors to reflect the new shareholding proportion.

One director will be appointed by PDT, while SDGLV and EWDG will each appoint three directors.

SD Guthrie said the amended agreement reflects the group’s confidence in the strength of EBP8 and positive long-term view on the prospects of Iskandar Malaysia – which is part of the strategic Johor-Singapore Special Economic Zone (JS-SEZ).

The company noted that as of the third quarter of 2025, Johor has achieved RM91.1bil worth of approved investments, the highest in Malaysia. This surpassed total approved investments in Johor for 2023 and 2024 of RM43bil and RM48.5bil respectively.

SD Guthrie added that SDGLV’s larger stake in the joint venture “reflects alignment between all the partners to ensure that both risks and opportunities are shared and will contribute towards their commitment to build a strong and enduring partnership”.

In a statement, SD Guthrie group managing director Datuk Mohamad Helmy Othman Basha said industrial development is set to become an important pillar of the group’s future growth.

“With the increase in stake to 45%, SD Guthrie will play a more strategic role in the joint venture. We are pleased to work closely with PDT and EWDG. This is a strategic move that will enable us to deliver sustainable returns to our shareholders,” he said.

“Considering the scale of our strategic land bank, it makes perfect sense for us to create more value where possible.”

The industrial park is strategically positioned to benefit from the long-term growth trajectory of Iskandar Malaysia, set to be encompassed within the JS-SEZ.

With an estimated gross development value of RM3.75bil, the development will include industrial lots, ready-built solutions and commercial amenities. It will target innovation-led sectors—ranging from high-tech and artificial intelligence supply chains to advanced electrical and electronics, biotechnology, medtech, food technology and logistics.

Last month, SD Guthrie said it will be disposing 941.82 acres of freehold land in Kulai, Johor, for RM814.78mil to a special purpose vehicle, EBP8. It also announced that it will partner with EWDG and PDT to jointly develop the said land, located within the JS-SEZ.

SD Guthrie said it is expected to record a gain on disposal (after tax and expenses) of about RM364mil in the financial year ending Dec 31, 2026, in respect of the proposed land disposal.