CapitaLand Malaysia Trust (‘CLMT’) announced on 5 February 2024 that MTrustee Bhd, the trustee of CLMT, has entered into a conditional agreement on its behalf to acquire three prime freehold ready-built factories in the Nusajaya Tech Park in Iskandar Malaysia, Johor from Nusajaya Tech Park Sdn Bhd for a combined consideration of RM27 million. The acquisition of these properties marks CLMT’s entry into the industrial market and the diversification of its geographical footprint to Johor. The acquisitions are expected to be completed in the fourth quarter of 2024.
 
Nusajaya Tech Park is a 210-hectare integrated industrial development located at Gerbang Nusajaya in Iskandar Malaysia, Johor. Designed to accommodate a wide range of light to medium industries. It is home to multinational corporations and leading local enterprises from various industries, including aerospace, automotive electronics, precision engineering, IT, e-commerce and data centres.
 
Skrine acted for CLMT in the transaction. The team comprised Partners, Jesy Ooi and Tan Wei Xian, Senior Associate, Engy Tan, and Associate, Tham Zhi Jun.
 
Media coverage of the transaction can be accessed at:
 
https://theedgemalaysia.com/node/699892
 
https://www.nst.com.my/business/corporate/2024/02/1010262/capitaland-malaysia-buy-maiden-industrial-properties-nusajaya
 
https://www.businesstoday.com.my/2024/02/05/capitaland-forays-into-industrial-with-rm27-million-acquisition-in-nusajaya/
 
https://www.thestar.com.my/business/business-news/2024/02/07/capitalands-factories-buy-a-positive