IJM Land Partners MOF Inc Unit to Develop RM1.96 bil Industrial Park in JS-SEZ

 IJM Land Bhd, a unit of IJM Corp Bhd (KL:IJM), has signed a joint venture to develop a 307.17-acre industrial and commercial project in Sedenak, Johor, within the Johor-Singapore Special Economic Zone, with an estimated gross development value of RM1.96 billion.

In a press statement, IJM said the land will be jointly developed over a six- to eight-year period with the master developer of the Southern Catalyst Innovation District in Sedenak, Southern Catalyst Sdn Bhd (Socat), a Ministry of Finance Inc-linked company.  The Southern Catalyst Innovation district covers 2,940 acres.

The site is located near the Sedenak toll plaza with access to the North-South Expressway and will focus on industrial sectors including advanced manufacturing, renewable energy, biopharmaceuticals, logistics, agri-technology and food technology.

The collaboration will be undertaken through a joint venture company, IJM Land Sedenak Sdn Bhd, in which IJM Land will hold a 70% stake while Socat will own the remaining 30%.

“The industrial market in Johor continues to demonstrate strong growth momentum, supported by its strategic proximity to Singapore, competitive cost advantages, and sustained inflows of foreign direct investment. This strategic partnership with Socat represents a significant step in IJM Land’s industrial expansion strategy, allowing us to participate in a strategically positioned, master-planned development within a key growth corridor. Beyond strengthening our revenue pipeline, the project allows us to build greater depth and capability in the industrial space while contributing to Johor’s broader ambitions as a regional hub for advanced industries, innovation and cross-border economic activity,” IJM Land CEO Datuk Tony Ling Thou Lung said in the statement.

Socat chief operating officer Mohd Shahreza Maswan said the joint venture with IJM Land in Sedenak within the Johor-Singapore Special Economic Zone will help develop an integrated industrial ecosystem focused on Agri-Tech, green technology, advanced manufacturing and logistics, with the aim of supporting food security, attracting global investment and turning the area into a regional hub for sustainable, innovation-driven growth.

The group has experience in large-scale industrial projects, including the Malaysia-China Kuantan Industrial Park (MCKIP), Malaysia’s first national industrial park, which covers over 3,500 acres and has attracted more than RM30 billion in investments

The master plan and blueprint for the JS-SEZ are yet to be announced, with a planned launch on March 30, 2026, postponed with no new date.

The JS-SEZ, launched on Jan 7, 2025, is a joint initiative by Malaysia and Singapore to create an integrated trade and investment hub. Spanning over 357,000 hectares across six local council areas in Johor, it combines Singapore’s strengths in finance and research with Johor’s larger land area and lower operating costs.

The project aims to raise Johor’s gross domestic product to RM260 billion by 2030 and create 20,000 high-skilled jobs. The zone covers areas including Iskandar Malaysia and Pengerang, and features nine flagship areas with incentives for sectors such as logistics, manufacturing, finance, digital economy, tourism, healthcare, education, energy, and green economy.

At the time of writing on Monday, IJM Corp’s shares were up by five sen or 2.4% to RM2.12, valuing the group at RM7.73 billion.

Media Title: The Edge Malaysia
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