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SD Guthrie, Sime Darby Property to Pay MYR798 Million for Selangor Land

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SD Guthrie (KLSE:SDG) and Sime Darby Property (KLSE:SIMEPROP) will pay about 798.3 million ringgit to acquire land for a planned industrial and logistics corridor in Kuala Selangor, according to a Wednesday disclosure.

The companies formalized a proposed acquisition of about 1,021.9 acres within the Bukit Kerayong Estate in Kapar, which will serve as the site of the joint development.

The parties each hold a 50% stake in the joint venture and have committed to invest up to 100 million ringgit each.

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