Guthrie, Bumi Assets and YTL Power Partner to Advance Strategic Development in Selangor

• The strategic joint venture aims to create long-term value through the sustainable development of a prime land parcel in Selangor
   

Petaling Jaya, 29 October 2026 – Guthrie has entered into a strategic joint venture with Bumi Assets Sdn Bhd and YTL Power International Berhad (YTL Power) to develop approximately 1,623 acres of freehold land in Bukit Kerayong, Selangor, into an integrated industrial development.

The joint venture will be undertaken through Bukit Kerayong Industrial Developments Sdn Bhd (BKID), with Guthrie holding a 30% equity interest through its wholly owned subsidiary, SD Guthrie Land Ventures Sdn Bhd (SDGLV). Bumi Assets Sdn Bhd will hold 35% while YTL Power will hold the remaining 35% through its wholly owned subsidiary, Bukit Kerayong Industrial Venture Sdn Bhd.

As part of the transaction, Guthrie will dispose of the land to BKID for approximately RM933.57 million.

Guthrie’s President & Group Chief Executive Officer, Mohd Haris Mohd Arshad, said the transaction represents an important milestone in unlocking the long-term value of Guthrie's strategic land bank while creating opportunities for sustainable economic growth and development in Selangor.

“The strategic location of Bukit Kerayong, supported by strong connectivity through the West Coast Expressway (WCE) and North Klang Valley Expressway (NKVE), and its proximity to Port Klang's Northport and Westports, presents significant potential to serve the rising demand for high-quality industrial and logistics developments,” he said.

Y. M. Dato’ Seri Syed Budriz Putra Jamalullail, representing Bumi Assets, said, “We see Bukit Kerayong as a long-term investment in Selangor’s industrial future. Our ambition is to attract businesses that will establish and expand their operations here, creating jobs and opportunities for local enterprises throughout the supply chain. Working with our partners, we aim to ensure that the development delivers lasting economic value for Selangor and its communities.”

YTL Power’s Managing Director, Dato’ Seri Yeoh Seok Hong, said the partnership brings together complementary strengths to realise the full potential of the Bukit Kerayong development.

“Together with our partners, we aim to develop Bukit Kerayong into a sustainable, well-connected industrial destination that attracts high-quality investments. We bring our experience in developing and operating power, water, telecommunications and digital infrastructure, complemented by our capabilities in AI and cloud computing, to support industrial growth and Malaysia’s expanding digital economy,” he said.

The strategic collaboration combines the strengths of the three partners to develop the land into a light-to-medium industrial park complemented by commercial components and supporting infrastructure.

The proposed development is expected to contribute to economic activity, generate employment opportunities and support the continued growth of the surrounding communities.

To download PDF: 
English