Pic source mmc.com.my

MMC Corp Bhd, through Senai Airport City Sdn Bhd (SACSB), a wholly-owned subsidiary of Senai Airport Terminal Services Sdn Bhd, is selling another 11.07 acres (4.4798ha) of vacant industrial land in Senai Airport City (SAC) for RM24.1 million.

The land is acquired by Shengda New Energy Sdn Bhd (SNESB) for the expansion of a solar manufacturing facility in Johor.

Prior to this, the Chinese-based company had acquired 11.07 acres of land in SAC on Nov 11, 2020.

“SNESB’s aggregate total purchase consideration in SAC is valued at RM48.2 million,” MMC said in a statement last Friday.

SNESB’s investment into SAC is for of its long-term expansion plan for manufacturing solar tracker slew gear (tracking driver), solar cleaning robots and power station demonstration project, as well as research and development testing lines for battery energy storage, MMC noted in

its exchange filing last Friday. Apart from the above disposals, SACSB had also entered into three sales and purchase agreements with electrical and electronic companies on Feb 26, 2021, for the disposal of three parcels of vacant industrial lands measuring in aggregate 21.36 acres, for an accumulated purchase consideration of RM46.5 million.

The remaining vacant industrial lands available for sale in SAC is 887.50 acres.

SACSB is the master developer of a 2,718 acres integrated industrial development known as SAC, located in Iskandar Malaysia, Johor.