AME Elite and KLK Land will proceed to undertake the development through their joint venture entity, Central Gateway Development Sdn Bhd, which is 60% owned by AME Elite's subsidiary AME Industrial Park Sdn Bhd (AMEIP) and 40% by KLK Land.
Central Gateway Development will acquire two parcels of freehold agricultural land with industrial potential in Mukim Ijok, Selangor, from KLK, for a total purchase consideration of RM230.5 million, to be satisfied fully in cash. Additionally, AME Elite and its subsidiaries will provide financial assistance to Central Gateway Development through AMEIP for the development of the land.
AME Elite executive director and group CEO Dylan Tan Teck Eng said, “Securing shareholder support for this expansion into Selangor marks a significant milestone in AME Elite’s growth trajectory. This joint venture allows us to leverage our core strengths in developing sustainable industrial parks while capitalising on the significant opportunities in this key industrial state. With our presence in Johor, Penang, and now Selangor, we have truly become a national player in the Malaysia’s industrial space sector.”
The industrial park is strategically located within the Greater Klang Valley, providing convenient access to major transport networks and a skilled workforce poised to attract a diverse range of industries.
