21/08/2026

FRIDAY | AUG 21, 2026

14

BIZ & FINANCE

Mah Sing sells land for RM617.9m

BIZ & FINANCE

“We have built our business over more than three decades by identi fying opportunities early, executing with discipline and creating value from our landbank. We see the same opportunity in digital infrastructure,” he said, adding that AI is reshaping the global digital infrastructure landscape, and Malaysia is well positioned to capture a meaningful share of this growth. “Our ambition is to build Mah Sing into a company that can participate not only in property development, but also in the infrastructure supporting the next generation of AI and digital services,” said Leong. He noted that they are partnering with experienced international players because they believe this is the fastest and most effective way to build capability, bring new tech nology into Malaysia and develop a business that can compete beyond the traditional markets. “For Mah Sing, this is about building for the next 10 to 20 years. We want to create new capabilities,

City as a destination for large-scale digital infrastructure investment, while providing the group with an opportunity to recycle capital into higher-value opportunities. In a statement, Mah Sing said the buyer has strong interest from its associates in bringing NeoCloud and advanced Nvidia GPU computing capabilities together with its data centre development and operating capabilities to support high-per formance AI workloads at Mah Sing DC Hub @ Southville City. Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said, “This transaction demon strates our ability to identify emerging growth sectors early and unlock value from our landbank. Digital infra structure represents a natural extension of our development capa bilities, and we intend to build this into a meaningful second growth engine for Mah Sing over time.” He added that this transaction marks an important new chapter for Mah Sing.

infrastructure opportunities, the group aims to broaden its earnings base and create sustainable long term value for shareholders. Mah Sing deputy group CEO Lionel Leong Jihn Haur, said, “We see a strong opportunity to bring international AI and cloud players into Malaysia. The demand for next-generation AI computing infrastructure creates opportunities for Mah Sing to move further up the digital infrastructure value chain. The data centre is an important foundation for a broader AI infrastructure ecosystem. “By working with experienced international technology and infra structure partners, Mah Sing can build new capabilities and position itself for the next phase of digital infrastructure growth.” In addition to unlocking land value through the transaction, Mah Sing is planning to develop a colocation data centre within Mah Sing DC Hub @ Southville City through a strategic partnership with an experienced colocation operator.

PETALING JAYA: Mah Sing Group Bhd is accelerating its digital infrastructure strategy following the disposal of about 78.8 acres of commercial land within Mah Sing DC Hub @ Southville City to WG Malaysia X Sdn Bhd, a wholly owned subsidiary of an established international digital infrastructure group, for RM617.9 million or RM180 per square foot. The transaction represents a significant monetisation of Mah Sing’s development-ready digital infrastructure landbank and vali dates Mah Sing DC Hub @ Southville o Company unlocks value of commercial plot at Southville City, accelerates digital infrastructure strategy

new assets and new sources of long term value for our shareholders, while contributing to Malaysia’s ambition to become a leading regional hub for AI and digital infra structure,” he added. Mah Sing’s property development business remains the group’s core strength and foundation for growth. Building on this established platform, the group is leveraging its capabilities in landbanking, development, infra structure delivery and strategic partnerships to expand into the digital infrastructure sector. Digital infrastructure provides Mah Sing with an additional avenue to unlock and recycle capital from its landbank while progressively building recurring-income opportunities and long-term ownership of digital infra structure assets. By combining its property development strengths with digital

SPX expands Klang Valley electric delivery vehicle fleet

Gapima obtains RM13.4m Islamic financing from MIDF for acquisition PETALING JAYA: Malaysian Industrial Development Finance Bhd (MIDF) has provided RM13.4 million in Islamic financing to Gapima Sdn Bhd under the Soft Financing Scheme for Automation and Modernisation to part-finance the acquisition of new industrial property in Klang, Selangor. The financing will support Gapima’s purchase of a semi-detached industrial building and factory located at 2A, Jalan Anding 3/KU5, at a price of RM14.896 million. The new facility forms part of Gapima’s ongoing upgrading and expansion programme, aimed at enhancing logistics efficiency, strengthening its ware-housing capabilities and providing additional capacity to support the company’s continued growth. Established in 1974, Gapima has evolved from its beginnings in forwarding and stevedoring at Penang Port into an integrated logistics provider offering project logistics, freight forwarding, multimodal transportation and warehousing solutions. Today, the company operates a network of 10 offices and warehouses nationwide, with its headquarters owned by the company and its other locations leased from third parties. MIDF CEO Azizi Mustafa said “Gapima’s investment in a new logistics facility is a good example of how strategic financing can help Malaysian businesses build the capacity required for sustainable growth. “At MIDF, we remain committed to supporting businesses as they modernise their operations, strengthen their competi tiveness and invest in the infrastructure and capabilities needed to capture future oppor tunities. “We are pleased to support Gapima as it continues to expand its logistics capabilities and strengthen its presence across Malaysia.” Gapima CEO Muhammad Taufiq Johari said “The acquisition of this new facility marks an important milestone in Gapima’s continued growth journey.” The new facility will complement Gapima’s nationwide network while strengthening its warehousing and operational capabilities.

█ BY HAYATUN RAZAK sunbiz@thesundaily.com

SHAH ALAM: SPX Express has added 10 electric delivery vehicles (EV) to its fleet in the Klang Valley as part of efforts to strengthen its operational capabilities and support its growing logistics network. The vehicles, supplied by Dongfeng Commercial Vehicle (Malaysia) Sdn Bhd, will be deployed for daily parcel deliveries across the Klang Valley. Each EV has a range of up to 200km on a single charge, a payload capacity of up to 1,015kg and 4.8 cubic metres of cargo space, allowing SPX to assess their performance and suitability across different urban delivery conditions. The initiative was launched by Deputy Communications Minister Teo Nie Ching and attended by representatives from SPX and Dongfeng Commercial Vehicle (Malaysia). SPX Express Malaysia head Cheah Lee Sun said the company remained focused on strengthening every part of its delivery network to provide reliable and cost-efficient logistics solutions for businesses and consumers. “Our priority is to continue providing reliable and cost-efficient delivery solutions to help Malaysian small and medium enterprises reach and serve their customers, while meeting the evolving needs of shoppers. “This means we continue to focus on strengthening every part of our network, from sorting technology to infrastructure. The addition of 10 new electric vehicles to our Klang Valley fleet is part of this approach, helping us improve the efficiency of our delivery operations while continuing to provide reliable services,” she said at the

Teo test drives one of SPX’s new electric delivery vehicles, accompanied by Cheah. – BERNAMAPIC

While the automated technology improves capacity and efficiency at the sorting stage, the new EVs expand the range of vehicle technologies used in last-mile deliveries. The initiatives form part of SPX’s efforts to build a more integrated, efficient and resilient logistics network. Cheah said the company would continue integrating its capabilities more effectively to strengthen service quality for customers and partners while building capacity to meet their longer-term needs.

launch yesterday. The deployment will also allow SPX to gather operational data and insights to support its longer-term fleet planning. The EV complement SPX’s wider investments across its parcel delivery network. In 2025, the company invested RM63.2 million in advanced automated sorting technology at its Bukit Raja South Sorting Centre, more than doubling the facility’s processing capacity to over two million parcels a day.

IJM resells treasury shares as part of RM3b value realisation initiative PETALING JAYA: IJM Corporation Bhd has completed the resale of its entire 142.4 million treasury shares, representing approximately 3.9% of its issued share capital, through open market transactions on Bursa Malaysia yesterday. of IJM’s RM3 billion value realisation initiative over three years, which includes the proposed listing of IJM Construction Sdn Bhd, monetisation of the group’s mature Malaysian toll concessions and the progressive exit from its India investments. delivering shareholder value that we set out to do. We will continue to execute the remaining initiatives in a disciplined manner and keep shareholders updated on our progress.”

No new shares were issued; the resold shares return to circulation with the usual voting and dividend rights. Following the resale, IJM’s issued share capital will comprise 3,647,566,120 ordinary shares

IJM group CEO and managing director Datuk Lee Chun Fai said: “We made a clear commitment to unlock value across the Group. This is another tangible step in

The shares were transacted between RM2.72 and RM2.74each, resulting in net proceeds of about RM385 million. The resale of the treasury shares forms part