Daily Digest · Thursday, 16 July 2026· Updated: about 1 hour ago
Sime Darby Property, SD Guthrie clear RM798 mil land buy for Selangor logistics hub; Shah Alam High Court orders winding up of KSK Land's 8 Conlay development unit
The Bukit Kerayong joint venture has signed agreements to acquire 1,021.93 acres in Kapar for RM798.3 million, with Sime Darby Property Bhd and SD Guthrie Bhd each committing up to RM100 million in equity to advance a 3,000-acre master plan announced in late 2025 into its implementation phase. Separately, the Shah Alam High Court ordered the winding up of Damai City Sdn Bhd, developer of the stalled 8 Conlay luxury project, leaving contractor GDB Holdings Bhd seeking to recover more than RM140 million in court-awarded claims.
Quick takes
- A consortium including Sunway MCL Land Pte Ltd has submitted the top S$2.1 billion (approximately RM6.6 billion) bid for a prime Bayshore government land site in Singapore, earmarked for a large mixed-use development comprising residential and retail components, subject to government approval.
- TAFI Industries Bhd's unit has secured a RM135 million related-party contract to build a 37-storey mixed-use development in Setia Alam comprising serviced apartments, SOHO units and retail space, with construction scheduled over 42 months and expected to contribute positively to earnings through FY2030.
- Solar District Cooling Group Bhd's subsidiary has secured a RM18.5 million contract to upgrade building management systems at Klang Valley rail stations, covering design through commissioning over 24 months, with funding from IPO proceeds and internally generated funds.
- TCS Group Bhd plans to place up to 20% new shares to raise about RM10.5 million for construction working capital while seeking shareholder approval on August 5 to diversify into property development, although no specific projects or land acquisitions have been identified.
- Rivertree STF Synergies Bhd secured a RM168.14 million contract to build a 9,000-bed centralised labour quarters in Kapar, Klang, and expects three more CLQ projects in the Klang Valley within nine months under a RM600 million collaboration with Catenary Capital Sdn.
Sime Darby Property and SD Guthrie sign first 1,021.93-acre Bukit Kerayong land acquisition, moving industrial corridor from planning into implementation
Sime Darby Property and its sister company SD Guthrie are advancing plans for a new industrial and logistics corridor in Kuala Selangor. Their 50:50 joint venture, Kerayong Development Consortium Sdn Bhd, has signed agreements to acquire 1,021.93 acres of freehold agricultural land in Bukit Kerayong Estate, Kapar, from SD Guthrie for RM798.3 million, according to separate Bursa Malaysia filings.
Each partner will invest up to RM100 million in equity into the joint venture. The land acquisition will be funded through a combination of the venture's internally generated funds and bank borrowings. The transaction represents the first land acquisition under a broader master plan announced in November 2025 to jointly develop about 3,000 acres in the Bukit Kerayong area into an industrial and logistics hub. The site is located near Port Klang, is served by the West Coast Expressway and the upcoming East Coast Rail Link, and adjoins Sime Darby Property's Bandar Bukit Raja township. The companies envisage a heavy industrial park incorporating logistics and renewable energy infrastructure as part of a wider industrial development corridor extending towards Carey Island.
Group managing director Datuk Seri Azmir Merican said the signing marks the transition from planning into implementation.
Why it matters
This is the first tranche of a much larger industrial master plan rather than the full 3,000-acre development. It is also a related-party acquisition from SD Guthrie that will be funded partly through borrowings, making transaction pricing and future gearing natural areas of investor focus. More broadly, the transaction illustrates how plantation landbanks continue to be converted into large-scale industrial development near Port Klang, supported by major transport infrastructure. It also sits alongside recent industrial land assembly activity in Kapar and southern Johor, highlighting continued expansion of Malaysia's industrial development pipeline.
8 Conlay developer Damai City wound up as GDB pursues recovery of more than RM140 mil in claims
The Shah Alam High Court has ordered the winding up of Damai City Sdn Bhd, the developer of the stalled 8 Conlay project in Kuala Lumpur, following a petition by TSL Victory Sdn Bhd under the Companies Act 2016. GDB Holdings said its wholly owned subsidiary Grand Dynamic Builders Sdn Bhd, a creditor of Damai City, is taking steps to safeguard its interests in the liquidation proceedings.
The court appointed Lim Tian Huat and Chiang Teng Guan of Rodgers Reidy as joint liquidators after accepting the liquidators proposed by GDB instead of those nominated by the petitioner. The winding up marks the latest development in a dispute dating back to 2022 over payment under the project's RM1.25 billion main construction contract.
Earlier this year, Grand Dynamic Builders obtained a High Court judgment of RM102.8 million against KSK Land Sdn Bhd under a corporate guarantee. KSK Land, which is itself in liquidation, is appealing the judgment. GDB has previously disclosed that its aggregate court-awarded claims exceed RM140 million. The 8 Conlay project, with an estimated gross development value of about RM5.4 billion, has previously been reported as being marketed for sale by its receivers.
Why it matters
The winding up places the developer into a court-supervised liquidation process, with the court appointing liquidators supported by GDB. However, it does not in itself result in recovery of the contractor's claims. Recovery remains dependent on the liquidation process, the outcome of ongoing legal proceedings, and the eventual realisation of the project's assets. More broadly, 8 Conlay has become one of the clearest recent examples of how payment disputes on large luxury developments can leave contractors pursuing recovery through the courts for extended periods.
Also on the radar today
TDM hospital expansion clears final conditions
TDM Bhd said its agreement to build and sub-lease a new block at KMI Tawau Medical Centre, together with renovation works for its existing specialist hospital building in Tawau, Sabah, has become unconditional after all conditions precedent were fulfilled, allowing the development to proceed.
Titijaya granted leave in RM9.6 mil tax challenge
Titijaya Land Bhd said its wholly owned subsidiary Shah Alam City Centre Sdn Bhd has obtained leave from the Shah Alam High Court to proceed with a judicial review against an additional tax assessment of RM9.596 million, inclusive of penalties, issued by the Inland Revenue Board.
Appeals Court limits further EkoCheras late-delivery claims
The Court of Appeal overturned a High Court award of additional liquidated ascertained damages to four EkoCheras purchasers, ruling that they were bound by settlement letters previously signed after taking vacant possession.
Plenitude launches 712-unit Johor Bahru development
Plenitude Bhd has launched Mandolin Residences, a 712-unit freehold serviced apartment project in Taman Desa Tebrau, Johor Bahru, with prices starting from RM326,400 for units from 528 sq ft.
Today's roundup
Sime Darby Property and SD Guthrie signed agreements for the RM798.3 million acquisition of 1,021.93 acres in Kapar, taking the Bukit Kerayong industrial corridor from planning into implementation under a broader 3,000-acre master plan. Meanwhile, the Shah Alam High Court ordered the winding up of 8 Conlay developer Damai City, with GDB continuing efforts to recover more than RM140 million in court-awarded claims through the liquidation process. Elsewhere, TDM's Tawau hospital expansion cleared its final conditions precedent, Titijaya secured leave to challenge a RM9.6 million tax assessment, the Court of Appeal clarified the effect of settlement agreements in EkoCheras late-delivery claims, a Sunway-led consortium emerged as the top bidder for a S$2.1 billion Singapore mixed-use site, and Plenitude launched a new 712-unit freehold residential project in Johor Bahru.
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