Write an article about SD Guthrie, Sime Darby Property to develop industrial and logistics hub on Carey Island .Organize the content with appropriate headings and subheadings (h1, h2, h3, h4, h5, h6), Retain any existing tags from
PETALING JAYA: SD Guthrie Bhd and Sime Darby Property Bhd have signed a joint venture agreement to develop up to 2,000 acres of land on Carey Island, Selangor, to support sustainable economic growth and innovation.
The joint venture agreement is a culmination of discussions which began in 2023, and is driven by a shared vision for long-term value creation that will be formalised through the establishment of a special purpose vehicle (SPV).
The collaboration represents a unique opportunity for both companies to unlock Carey Island’s full potential, transforming it into a leading industrial and logistics hub that will co-exist with the integrated and well-established palm oil business on the island and complement the existing operations at Westports and Northport in Port Klang.
Both SD Guthrie and SDP are strategic investee companies of Permodalan Nasional Bhd (PNB), one of the largest fund management companies in Malaysia. PNB will nominate the chairman of the newly formed SPV.
PNB president and group chief executive Datuk Abdul Rahman Ahmad said, “We laud and greatly support this joint venture between SD Guthrie and SDP, which aligns with national aspirations and GEAR-uP initiatives by the government in catalysing domestic investments. This collaboration between PNB’s two strategic companies will provide a boost towards the sustainable development of this high potential area as well as help bolster further Malaysia’s economic and industrialisation growth.”
The 2,000 acre site on Carey Island provides the scalability required for world-class logistics facilities, integrated supply chains and high-value industrial developments, required to attract global players and investments. The port will thus be well positioned to compete with ports in Singapore, Thailand and Vietnam, giving a boost to Malaysia’s aspirations to become a logistics powerhouse in the region.
Today, Carey Island is celebrated for its fully integrated oil palm plantation, the last one of its kind in the Greater Klang Valley. It is an important location for the Malaysian plantation industry and is used frequently to host visitors from around the world, including foreign government delegations, ambassadors, research and development (R&D) institutions and universities. SD Guthrie operates two estates and palm oil mills on the island, all of which are certified to the highest sustainability standards in the world.
Also on the island are a kernel crushing plant, biodiesel plant, R&D facilities, robotics and innovation centre and nursery. Palm oil produced in Carey Island is processed in two large refineries located nearby in Langat and Port Klang, which serve customers from around the world.
There are also 14 historical buildings on Carey Island that are listed as heritage sites by the National Heritage Department, a large biodiversity park and sensitive mangrove ecosystems that are maintained by SD Guthrie.
Combined with the thriving plantation business, the new development on Carey Island will stimulate economic growth, generate employment opportunities and uplift the local economy while preserving the valuable heritage elements of the site.
The strategic approach to foster sustainable value creation will ensure that the needs and well-being of local communities, including the indigenous Mah Meri people on the island, are prioritised.
SD Guthrie owns 79% of Carey Island, or 28,646 acres. The plantation is managed sustainably to ensure environmental conservation. In 2024, SD Guthrie announced its expansion into two new business areas: industrial parks and renewable energy.
In a joint statement issued by the two companies, SD Guthrie group managing director Datuk Mohamad Helmy Othman Basha said, “We fully support the government’s aspirations to accelerate the growth of international trade and cater to the demand for innovative industrial facilities. Carey Island has been identified by the government as the new site for a world-class port due to its suitable and strategic location near Port Klang, and proximity to Pulau Indah.
“Additionally, the island is conveniently connected to the city via the South Klang Valley Expressway which integrates with the North-South Expressway, ensuring accessibility.”
Sime Property Group managing director and CEO Datuk Seri Azmir Merican said, “We are excited to partner with SD Guthrie on this timely opportunity to unlock value in Carey Island as a dynamic port and advance the nation’s aspirations of becoming a regional logistics and economic hub. The collaboration allows us to begin master planning and designing a future-ready industrial ecosystem that will serve the needs of businesses and communities for years to come.”
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