SD Guthrie announces RM418.51 million land sale and solar project

SD Guthrie Bhd has announced plans to seek shareholder approval on October 15 for the sale of 556.96 acres of freehold land in Kulai, Johor, to Sime Darby Property (Kulai) Sdn Bhd. The transaction is valued at RM418.51 million, which represents approximately RM17.25 per square foot. The land, currently cultivated with oil palms, is zoned for residential use.

SD Guthrie expects a net gain of approximately RM373.36 million from the disposal. The company intends to use the proceeds to partly repay revolving credit facilities, with the remainder covering real property gains tax and transaction expenses.

Separately, a consortium consisting of Gamuda Bhd, SD Guthrie Bhd, and Gentari Sdn Bhd has signed a term sheet for a 680MWac hybrid solar photovoltaic and battery energy storage system (BESS) project in Perak. The project aims to supply renewable energy to a US-based multinational technology company’s data centers through a 21-year bilateral energy supply contract. The project is estimated to generate gross revenue exceeding RM10 billion over its offtake period, with commercial operations targeted for 2029.