Permodalan Darul Ta’zim, SD Guthrie and EcoWorld Form Strategic Partnership to Develop 935.24-acre Eco Business Park 8 in Kulai, Johor

• Permodalan Darul Ta’zim, SD Guthrie and EcoWorld Form Strategic Partnership to Develop 935.24-acre Eco Business Park 8 in Kulai, Johor
   

Johor Bahru: Permodalan Darul Ta’zim Sdn Bhd (“PDT”), SD Guthrie Land Ventures Sdn Bhd (“SDGLV”) and Eco World Development Group Berhad (“EcoWorld”), today entered into a strategic partnership to develop a new integrated industrial park in Mukim Kulai, Johor.

The collaboration was formalised through a Subscription and Shareholders’ Agreement (“SSA”) which will see the parties jointly participating in Eco Business Park 8 Sdn Bhd (“EBP8SB”), a special purpose vehicle incorporated to acquire and develop the 935.24-acre freehold site. As part of this arrangement, the land will be injected into the joint venture company to enable the development of this landmark project.

Under the agreement, EcoWorld will hold 65% equity in EBP8SB, while SDGLV, a whollyowned subsidiary of SD Guthrie Berhad (“Guthrie”), will hold 25%. The remaining 10% will be held by PDT.

The joint-venture agreements were signed by:
Subscription and Shareholders’ Agreement
• YB DATO’ RAMLEE A RAHMAN – President & Group Chief Executive, PDT 
• DATO' CHANG KHIM WAH – President & Chief Executive Officer, EcoWorld
• MOHD HARIS MOHD ARSHAD – Deputy Group Managing Director, Guthrie
• LIEW TIAN XIONG – Deputy CEO, EcoWorld

In the presence of distinguished witness:
• YB LEE TING HAN, Chairman of the Johor State Investment, Trade, Consumer Affairs and 
Human Resources Committee
And accompanied by:
• DATUK MOHAMAD HELMY OTHMAN BASHA – Group Managing Director, Guthrie

Sale and Purchase Agreement
• MOHD HARIS MOHD ARSHAD – Deputy Group Managing Director, Guthrie
• LIEW TIAN XIONG – Deputy CEO, EcoWorld

In the presence of distinguished witness:
• YB LEE TING HAN, Chairman of the Johor State Investment, Trade, Consumer Affairs and 
Human Resources Committee
And accompanied by:
• YB DATO’ RAMLEE A RAHMAN – President & Group Chief Executive, PDT 
• DATUK MOHAMAD HELMY OTHMAN BASHA – Group Managing Director, Guthrie
• DATO' CHANG KHIM WAH – President & Chief Executive Officer, EcoWorld

PDT is the investment arm of the Johor State Government that plays a pivotal role in fostering strategic collaborations to advance Johor’s long-term economic agenda and attract high-value investments. Guthrie, one of Malaysia’s largest landowners, has in recent years begun unlocking the value of its extensive landbank through new business verticals including industrial parks and renewable energy. EcoWorld contributes its technical expertise and proven capabilities in delivering green, digital-ready industrial estates as Development Manager through its wholly-owned subsidiary Eco World Project Management Sdn Bhd.

The proposed 8- to 10-year development in Mukim Kulai is for an integrated industrial development featuring industrial lots, ready-built facilities and supporting commercial components. To be branded Eco Business Park 8, with an estimated gross development value of RM3.75 billion, the project is designed to serve high-value and innovation-led sectors including high-tech and artificial intelligence supply chains, advanced electrical and electronics, biotechnology and medical technologies, food technologies and logistics.

The site is strategically located within the Johor–Singapore Special Economic Zone (JS-SEZ), with close proximity to Senai International Airport and excellent connectivity via the North–South Expressway. These advantages enhance its appeal to domestic and international industrialists seeking efficient access, strong logistical networks and a well-supported operating environment.

Today’s signing marks EcoWorld’s second joint venture with Guthrie, following the April 2025 agreements entered into with Guthrie and NS Corporation to develop Eco Business Park 7 in Malaysia Vision Valley 2.0, Negeri Sembilan. The combined strengths of both parties along with PDT will release substantial synergistic benefits to help accelerate and further advance the development of Iskandar Malaysia’s dynamic industrial ecosystem.

The joint venture comes at an opportune time, allowing the partners to pool their extensive knowledge, expertise and resources to deliver a future-focused industrial park that will attract quality investors, support local industrialists and drive high-growth value creation. This partnership supports Johor’s ambition to advance sustainable, long-term economic development while positioning the State for the next phase of industrial transformation.

Quote from YB Dato’ Ramlee A Rahman, President & Group Chief Executive, 
Permodalan Darul Ta’zim, (PDT):
“The development of Eco Business Park 8 is one of many opportunities visioned under the Johor-Singapore Special Economic Zone (JS-SEZ). By positioning this development within the JS-SEZ corridor in Kulai, we are not just offering industrial land; we are creating a hightech ecosystem capable of leveraging JS-SEZ incentives to attract top-tier multinational corporations. This project perfectly aligns with PDT’s mandate as the State’s delivery anchor partner, ensuring that the influx of high-value investments translates into sustainable economic complexity and quality jobs for Bangsa Johor.” said YB Dato’ Ramlee.

Quote from Datuk Mohamad Helmy Othman Basha, Guthrie’s Group Managing Director:
“With our strategic landbank spread across Malaysia, Guthrie is in a strong position to grow our industrial development portfolio. This new business vertical is in its early days but shows every promise of becoming an important contributor to our bottomline. “The partnerships we have forged with well-known industry leaders such as EcoWorld, enable us to accelerate progress and to establish Guthrie in this new sector. Together, we will continue advancing development agendas that generate meaningful benefits for Johor and for Malaysia 
as a whole,” said Datuk Mohamad Helmy.

Quote from Dato’ Chang Khim Wah, President & CEO of EcoWorld:
“This partnership brings together a shared vision for sustainable, future-ready development and combines our 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,” said Dato’ Chang.



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