{
  "id": 17051766,
  "title": "SD Guthrie sells Selangor land for RM934mil, forms JV with Bumi Assets, YTL Power",
  "url": "https://urgent.news/2026/10/29/sd-guthrie-sells-selangor-land-for-rm934mil-forms-jv-with-bumi-assets",
  "topic": "world",
  "section": "World",
  "published": "2026-10-29T11:22:55.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1566339/sd-guthrie-sells-selangor-land-rm934mil-forms-jv-bumi-assets-ytl"
  },
  "original_language": "en",
  "account": "SD Guthrie Bhd, a Malaysian conglomerate, has entered into a joint venture with Bumi Assets Sdn Bhd and YTL Power International Bhd to develop an industrial project on 657.09 hectares of land in Bukit Kerayong, Selangor. The development will include light-to-medium industrial facilities and commercial hubs, according to a filing with Bursa Malaysia. SD Guthrie's subsidiary, SD Guthrie Land Ventures Sdn Bhd, signed a shareholders' agreement with BKIV, a subsidiary of YTL Power, along with Bumi Assets and BKID, the developer of the Bukit Kerayong Industrial Project. The joint venture will be managed by BKID, with SD Guthrie holding a 30% equity stake through SDGLV, while BKIV and Bumi Assets each hold a 35% stake. SD Guthrie plans to invest up to RM101.12 million in the venture, using RM3 million for its equity position and RM98.12 million in short-term advances to finance land acquisition and related costs. The land will be sold to BKID for RM933.57 million, unlocking value in SD Guthrie's Malaysian landbank and diversifying its earnings beyond the palm oil sector. The disposal is expected to improve the company's financial position, as the net gain from the sale is anticipated to boost Guthrie Group's net assets. The group expects to record a net gain of RM586.30 million from the disposal, including adjustments for consolidation. After settling bank borrowings, taxes, and investment costs, RM744.38 million will be used to repay loans, RM88.07 million will cover estimated real property gains tax, and the remaining RM101.12 million will fund the joint venture investment. Completion of the land disposal is anticipated by the first quarter of 2027.",
  "summary": "KUALA LUMPUR: SD Guthrie Bhd has signed a joint venture with Bumi Assets Sdn Bhd and YTL Power International Bhd to develop 657.09 hectares of freehold land in Bukit Kerayong, Selangor, into an integrated industrial development.",
  "key_points": [
    "SD Guthrie sells 657.09 hectares of Selangor land for RM934 million to BKID.",
    "Forms joint venture with Bumi Assets and YTL Power for industrial project.",
    "SD Guthrie invests up to RM101.12 million in the venture."
  ],
  "editors_take": "Monetizing its Malaysian landbank through this industrial joint venture allows the conglomerate to diversify its revenue streams away from palm oil while strengthening its overall financial position.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}