PNSB, SD Guthrie, IJM, and Yayasan Selangor jointly initiate Carey Island's global positioning in Food Security and Edu-Tech Hub

Shah Alam, 8 July 2025 – Permodalan Negeri Selangor Berhad (PNSB), a wholly-owned subsidiary of the Selangor State Government, today formalised a historic Memorandum of Understanding (MoU) with three key strategic partners; SD Guthrie Berhad, IJM Corporation Berhad and Yayasan Selangor to realise the development of an Edu-Technology Park and Food Security Hub on Carey Island.

The document exchange ceremony was witnessed by The Right Honourable Dato’ Seri Amirudin bin Shari, Chief Minister Selangor, and was also attended by heads of Selangor State Government Departments and Board members and senior management of PNSB, SD Guthrie Berhad, IJM Corporation Berhad, and Yayasan Selangor.

Dato’ Seri Amirudin bin Shari, who is also the Chairman of PNSB’s Board of Directors, stated that this project symbolises Selangor’s future aspiration to be a smart, competitive state and a regional leader in green economy and food security.

“This project not only reflects the State Government’s grand vision but also strengthens Carey Island’s position as an international hub for technology-driven development, education, and food security,” said the Chief Minister in his keynote address.

PNSB Signs Three MoUs with Yayasan Selangor, SD Guthrie Berhad & IJM Corporation Berhad

In conjunction with its 35th anniversary this year, PNSB has been entrusted to spearhead this pioneering project. The Edu-Technology Park will feature artificial intelligence (AI), smart infrastructure, and green energy technology, while Yayasan Selangor will develop an international-standard campus to enhance educational access and build human capital.

“Yayasan Selangor will play a key role in developing education facilities for the next generation. This is not just a physical investment, but an investment in the younger generation of Selangor,” added the Chief Minister, who is also the Chairman of the Board of Trustees of Yayasan Selangor.

PNSB’s Collaboration with Yayasan Selangor

In his speech, YM Raja Ahmad Shahrir Iskandar bin Raja Salim, Chief Executive Officer of PNSB, emphasized that this development will position Carey Island as a centre for the collection, processing, and distribution of halal food, complete with international-standard bulk raw material storage tanks (silos), cold chain systems, and agro-logistics infrastructure – in line with the objectives of the National Food Security Agenda 2030.

According to YM Raja Ahmad Shahrir Iskandar, “PNSB is deeply honoured by the commitment of our strategic corporate partners, SD Guthrie Berhad and IJM Corporation Berhad, as well as Yayasan Selangor, to be part of this project. This demonstrates the private sector’s confidence in the potential and impact of this initiative, and it can be seen as a Pilot Project to drive the ‘Carey Island Economic Transformation Vision’ to become Selangor’s new regional and global economic growth hub within ASEAN.”

He also extended his appreciation to YM Raja Nazirin Shah Raja Mohamad, Chief Executive Officer of Yayasan Selangor, for his leadership in championing the state’s education development agenda as a partner aligned with PNSB in this project.

Chief Executive Officer of Yayasan Selangor, YM Raja Nazirin Shah Raja Mohamad, stated that this collaboration not only focuses on physical and economic development, but also prioritises long-term social benefits.

He added that one of Yayasan Selangor’s main objectives in this engagement is to generate sustainable additional funding to support educational programs and financial aid for Selangor’s children.

“As the state’s educational agency, we believe that this strategic partnership will open new funding avenues, enabling more students from underprivileged backgrounds to gain access to quality education. This development is not merely about economics, but a long-term investment in the future of Selangor’s youth,” said YM Raja Nazirin Shah.

MoU between PNSB and SD Guthrie

The Memorandum of Understanding (MoU) between PNSB and SD Guthrie Berhad aims to explore the development of an approximately 470-acre visionary Edu-Technology Park and Food Security Hub on Carey Island, Selangor. The 470-acre site is part of a masterplan that includes 1,296 acres of land that belongs to Yayasan Selangor.

The MoU marks the second strategic collaboration to develop parts of Guthrie’s land on Carey Island, which will coexist with the thriving integrated plantation business that has existed on the island for decades.

Guthrie’s Group Managing Director, Datuk Mohamad Helmy Othman Basha, said this latest milestone offers Guthrie another opportunity to unlock the value of its landbank, and enabling the growth of its new business vertical, the development of industrial parks. Mohamad Helmy also lauded the efforts to address Malaysia’s food security needs, which are part of the masterplan.

“Guthrie is excited to explore this collaboration with PNSB to develop a high-impact and sustainable, economic and innovation hub in Selangor. Carey Island is already the centre of Guthrie’s R&D, mechanisation, automation and innovation initiatives, and as such, is well suited to be the site of the Edu-Tech Park and Food Security Hub,” he said.

Guthrie owns 79% of Carey Island, or 28,646 acres where the company’s plantations are 100% certified sustainable to international standards. The island is an important location for the national Palm Oil industry, frequented by visitors from around the world, including foreign government delegations, ambassadors, R&D institutions and universities.

Besides its two estates, Guthrie also operates two palm oil mills on the island, a kernel crushing plant, a biodiesel plant, research and development facilities, a robotics and innovation centre, and a nursery. Palm oil produced on Carey Island is processed in two large refineries located nearby in Teluk Panglima Garang and Port Klang, which serve customers from around the world.

“A strategic and sustainable approach to developing Carey Island is critically important – both to stimulate economic growth and to preserve the island’s plantations and valuable heritage elements. This includes ensuring that its heritage buildings and rich biodiversity are protected, and that the needs and well-being of local communities, including the indigenous Mah Meri people on the island, are prioritised,” he added.

IJM signs MoU with PNSB for development initiative in Carey Island

IJM Corporation Berhad (“IJM”) has signed a Memorandum of Understanding with Permodalan Negeri Selangor Berhad (PNSB) to explore potential development initiatives in Pulau Carey. As the developer and infrastructure partner for the proposed Edu-Technology Park and Food Security Hub, IJM will work alongside PNSB, the project’s lead proponent and SD Guthrie, the landowner and equity partner, to support the planning and potential rollout of key development components.

With multidisciplinary expertise across industrial development, masterplanning, road networks, logistics facilities, utility systems and industrial support infrastructure, IJM brings the capabilities required to deliver large-scale, sector-focused developments. Its integrated approach ensures that infrastructure and development solutions are aligned with long-term planning, land use and sustainability objectives.

IJM is the lead developer of the Malaysia–China Kuantan Industrial Park (MCKIP), a 3,500-acre national-level industrial zone that has attracted over RM30 billion in committed investments and created more than 20,000 jobs to date. MCKIP reflects IJM’s ability to deliver complex, multi-stakeholder industrial developments that support regional and national economic priorities.

“This collaboration allows us to apply our industrial development and infrastructure expertise to support Selangor’s ambitions in high-value, next-generation sectors,” said Dato’ Lee Chun Fai, Group Chief Executive Officer and Managing Director of IJM Corporation Berhad.

“Our aim is to deliver scalable, well-planned infrastructure that meets the practical needs of education, food security and technology-led industries. With our track record in projects like MCKIP, we understand what it takes to build ecosystems that are investment-ready, sustainable and built for growth. We look forward to working alongside PNSB, SD Guthrie and other collaborators as Pulau Carey develops,” he added.

New Investment Potential for Selangor

The Right Honourable Chief Minister also informed that the state government had received two official visits from the Embassy of the United Arab Emirates (UAE), the first on 14 April 2025, and the second during the ASEAN-GCC-China Summit on 27 May 2025. Both visits conveyed the UAE's commitment to explore strategic investments in this project. It was also reported that investors and manufacturers from China and the Middle East have shown interest in investing following a preliminary agreement with PNSB since 2024.

“Today’s collaboration reflects investors’ strong confidence in Selangor. We are ready to face regional geopolitical and economic challenges with sound policies and strategic development,” said the Chief Minister.

The project will be implemented based on sustainable governance principles (ESG) and is expected to be a key driver in strengthening Selangor’s position as a future hub for investment and innovation in the ASEAN region.