Mah Sing partners with TSSC for industrial property development, capitalizing on Malaysia’s growing foreign direct investment.
Petaling Jaya, 07 Sep 2023 – Mah Sing Group Bhd is diversifying its portfolio by establishing a joint venture (JV) with The South Sea Capital Sdn Bhd (TSSC) to enter the industrial real estate development sector.
In this development, Mah Sing’s wholly owned subsidiaries, Nova Legend Development Sdn Bhd (MS1) and Jastamax Sdn Bhd (MS2), have entered into a shareholders’ agreement with TSSC to create Mah Sing South Sea Industrial Development Sdn Bhd.
Under the agreement, MS1 and MS2 will hold 50% and 20% equity interest, respectively, while TSSC, primarily involved in holding company activities, will own a 30% stake.
TSSC’s director, Sun Jianwei, who is also the executive president of the Malaysia JiangSu Entrepreneurs Business Association, brings a wealth of experience in various industrial sectors, including manufacturing, technology, and services.
This strategic joint venture positions Mah Sing to take advantage of the rising foreign direct investment (FDI) trend in Malaysia. It presents new growth opportunities for the company’s industrial development portfolio.
Mah Sing has already successfully completed five industrial parks, including the Mah Sing Integrated Industrial Park in Mutiara Subang, iParc in Bukit Jelutong, iParc 2 in Shah Alam, iParc 3 in Bukit Jelutong (all in Selangor), and the Mah Sing iParc at the Port of Tanjung Pelepas in Johor.
In 2022, Malaysia’s approved investments totaled RM264.6 billion, with foreign direct investment (FDI) accounting for RM163.3 billion or 61.7% of the total approved investments. China played a prominent role in this foreign investment surge, contributing RM55.4 billion to Malaysia’s foreign investments.
