PDT, SD Guthrie, Ecoworld To Develop Eco Business Park 8 In Kulai
JOHOR BAHRU, 19 Nov (Bernama) -- Permodalan Darul Ta’zim Sdn Bhd (PDT), SD Guthrie Land Ventures Sdn Bhd (SDGLV) and Eco World Development Group Bhd (EcoWorld) have formed a strategic partnership to develop a major integrated industrial park in Kulai, Johor.
In a joint statement today, the parties said the collaboration was sealed through a Subscription and Shareholders’ Agreement (SSA), under which the three parties will jointly participate in Eco Business Park 8 Sdn Bhd (EBP8SB), a special purpose vehicle established to acquire and develop a 378.47-hectare freehold land.
Under the agreement, EcoWorld will hold a 65 per cent equity stake in EBP8SB, SDGLV — a wholly-owned subsidiary of SD Guthrie Bhd — will hold 25 per cent, while PDT will own the remaining 10 per cent.
The proposed eight- to 10-year development, to be known as Eco Business Park 8, has an estimated gross development value of RM3.75 billion.
The business park will feature an integrated industrial ecosystem comprising industrial lots, ready-built facilities and supporting commercial components.
Designed to meet the needs of high-value and innovation-driven sectors, the project will target industries such as high-tech and artificial intelligence supply chains, advanced electrical and electronics, biotechnology and medical technology, food technology and logistics.
Strategically located within the Johor–Singapore Special Economic Zone (JS-SEZ), the site offers proximity to Senai International Airport and strong connectivity via the North–South Expressway — advantages that enhance its appeal to domestic and international industrial players seeking efficient access and robust logistical networks.
The joint venture (JV) is expected to generate significant synergistic benefits and accelerate the growth of Iskandar Malaysia’s industrial ecosystem.
“It also aligns with Johor’s ambition to advance sustainable, long-term economic development and position the state for the next phase of industrial transformation,” the statement said.
Today’s signing marks EcoWorld’s second JV with Guthrie, following a partnership in April 2025 to develop Eco Business Park 7 in Malaysia Vision Valley 2.0, Negeri Sembilan.
The combined strengths of the partners, together with PDT, are expected to deliver substantial synergistic benefits that will accelerate and further strengthen the development of Iskandar Malaysia's dynamic industrial ecosystem.
Meanwhile, EcoWorld president and chief executive officer Datuk Chang Khim Wah said the partnership brings together a shared vision for sustainable, future-ready development and combines EcoWorld’s complementary strengths to meet rising demand, especially from technology-driven and advanced manufacturing sectors.
“With its strategic location and excellent connectivity, we are confident that Eco Business Park 8 will attract quality investors and contribute meaningfully to Johor’s continued rise as a leading regional powerhouse for industry and innovation,” he said.
PDT president and group chief executive Datuk Ramlee A Rahman said the project is one of the key opportunities envisioned under the JS-SEZ.
“By positioning this development within the JS-SEZ corridor in Kulai, we are not just offering industrial land; we are creating a high-tech ecosystem capable of leveraging JS-SEZ incentives to attract top-tier multinational corporations,” he said.
He said the project aligns perfectly with PDT's mandate as the state's delivery anchor partner, ensuring that the influx of high-value investments translates into sustainable economic growth and quality job opportunities for Johoreans.
SDGLV group managing director Datuk Mohamad Helmy Othman Basha said the partnership enables SD Guthrie to accelerate progress and establish itself in a new sector.
“The partnerships we have forged with well-known industry leaders such as EcoWorld enable us to accelerate progress and position Guthrie strongly in this new sector.
“Together, we will continue advancing development agendas that generate meaningful benefits for Johor and for Malaysia as a whole,” he said.
He added that with SD Guthrie's strategic landbank across Malaysia, the new industrial development business vertical, though in its early stages, shows strong potential to become a significant contributor to the company’s bottom line.
-- BERNAMA
