M Industrial Development Sdn Bhd, a subsidiary of Mah Sing Group Bhd, has executed supplemental agreements to modify specific provisions regarding its proposed acquisition of freehold land in Kulai, Johor, from Aura Muhibah Sdn Bhd, a unit of Kuala Lumpur Kepong Bhd.
The property developer stated in a filing with Bursa Malaysia on 12th March 2026, that while the total land acreage has changed from 419.15 acres to 419.17 acres, the RM273.87 million acquisition consideration has not changed.
According to Mah Sing, the supplemental project management agreement (PMA) and supplemental sale and purchase agreement (SPA) were signed to change the subdivision pattern of a portion of the master land.
It said that the subdivision would be expanded from two to six parcels, or to any other number of parcels that the parties may agree upon.
The overall land area has been slightly modified to 419.17 acres as a result of the variance. The land’s market value is still RM274 million.
An industrial development with an estimated gross development value of RM2.26 billion is anticipated to benefit from the land acquisition, which was originally announced on 19th December 2025, and 16th February 2026.
All other clauses of the SPA and PMA are still in full effect between the parties, with the exception of the changes in the parcel subdivision.
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