EcoWorld, SD Guthrie and NS Corporation Firm Up Partnership in Negeri Sembilan

Parties ink shareholders’ agreement to develop 1,195 acres of land in Negeri Sembilan through special purpose vehicle, Eco Business Park 7 Sdn Bhd.

Petaling Jaya, 20 May 2025 – Eco World Development Group Berhad (EcoWorld), SD Guthrie Berhad (SD Guthrie), formerly known as Sime Darby Plantation Berhad, and NS Corporation Sdn Bhd (NS Corp) signed a shareholders agreement today, signalling the commencement of their plans to develop Eco Business Park 7 (EBP 7) in Negeri Sembilan.

The partners have agreed on their shareholding in Eco Business Park 7 Sdn Bhd, the special purpose vehicle that will develop EBP 7. EcoWorld will hold 55%, while SD Guthrie Land Ventures Sdn Bhd (SDGLV), a wholly owned subsidiary of SD Guthrie will hold a 30% stake and the remaining 15% will be held by NS Corp. The three partners had on 18 April 2025 signed a sales and purchase agreement (SPA), which had followed from a Memorandum of Understanding signed on 18 December 2024.

The shareholders’ agreement sets out the terms and conditions upon which SDGLV, NS Corp and EcoWorld have agreed to participate in EBP 7. It will enable EBP 7 to purchase the new land pursuant to the SPA, and to undertake the proposed development.

EBP 7 will purchase 1,195 acres of freehold land located in Mukim Jimah, Port Dickson, Negeri Sembilan. This sets in motion the plan to develop EBP 7 into an integrated and managed industrial park with supporting commercial hubs located within Parcel C of Malaysia Vision Valley 2.0 (MVV 2.0), the primary economic corridor on the west of Peninsular Malaysia. Eco World Project Management Sdn Bhd, a wholly-owned subsidiary of EcoWorld, has been appointed the development manager of the project.

With its strategic position within MVV 2.0, the new industrial park carries an estimated Gross Development Value (GDV) of RM2.95 billion and forms part of a larger initiative to advance sustainable development in Negeri Sembilan. It will offer access to a proposed Nilai-Labu Expressway that will connect the area to key infrastructure and logistic hubs such as Kuala Lumpur International Airport, Port Klang, Nilai and the wider west coast corridor via the PLUS Highway, offering connectivity and logistical advantages that are conducive for business growth.

The project aims to attract local and foreign investments, create high-value jobs and drive the state’s economic growth agenda. MVV 2.0, launched in December 2018, comprises six parcels of development area (Parcel A - F) within approximately 380,000 acres across the Seremban and Port Dickson districts, and is designed to complement the growth of Greater Kuala Lumpur.

Click here to read more information relating to this development from the initial announcement on 18 April 2025.

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