PETALING JAYA, June 20 (Bernama) — SD Guthrie Berhad (SD Guthrie) and Sime Darby Property Berhad (SDP) have signed a joint venture agreement to develop up to 2,000 acres of land in Carey Island, Selangor, to support sustainable economic growth and innovation.
This joint venture agreement is a culmination from discussions which began in 2023, and is driven by a shared vision for long-term value creation that will be formalised through the establishment of a special purpose vehicle (SPV). The collaboration represents a unique opportunity for both companies to unlock Carey Island’s full potential, transforming it into a leading industrial and logistics hub that will co-exist with the integrated and well-established palm oil business on the island, and complement the existing operations at Westport and Northport in Port Klang. Both SD Guthrie and SDP are strategic investee companies of Permodalan Nasional Berhad (PNB), one of the largest fund management companies in Malaysia. PNB will nominate the Chairman of the newly formed SPV.