Sunsuria to sell 45 acres in Sepang to Amazon for RM316.8m

Sunsuria Bhd has agreed to sell 45.46 acres of freehold commercial land in Dengkil, Sepang, to Amazon Data Services Malaysia Sdn Bhd for RM316.84 million cash, about RM160 psf. Its 99.99%-owned subsidiary Sunsuria City Sdn Bhd signed the conditional sale and purchase agreement on 28 September 2026. The vacant land is to host data processing services and infrastructure, and the sale is expected to complete by the second quarter of 2027.

The deal

• Land: H.S.(D) 65882, PT 100115, Mukim Dengkil, District of Sepang; 183,973 sq m (about 1.98 million sq ft), freehold, vacant and free of encumbrances
• Price: RM316.84 million cash, 3.2% above the RM307 million market value appraised by CBRE WTW Valuation & Advisory as at 28 August 2026, using the comparison method
• Payment: a 10% deposit of RM31.68 million within 10 business days of signing, held by the buyer's solicitors as stakeholders. The RM285.16 million balance is paid after the last condition is met and released against milestones, including the title transfer and the infrastructure works
• Seller's works: Sunsuria City clears the site and, at its own cost, builds the access roads, street lighting, external sewerage mains, drainage, incoming water supply and telecommunications connections serving the land. The buyer gets a limited power of attorney to apply for planning and building approvals in the owner's name
• Conditions: approval by Sunsuria shareholders at an EGM; written confirmation from the Ministry of Economy that its approval is not needed; Selangor state approval for the purchase by a foreign company under Section 433B of the National Land Code, where applicable; and endorsement of the buyer's development by the Malaysian Data Centre Task Force
• Buyer: Amazon Data Services Malaysia Sdn Bhd, with issued share capital of RM5.38 billion, wholly owned by A100 Row, Inc.

The numbers

• Price per sq ft: RM316.84 million ÷ 1.98 million sq ft ≈ RM160 psf, or about RM6.97 million an acre. The valuation works out to about RM155 psf
• Sunsuria's cost: the land came into the group on 11 June 2015 at RM145.97 million, about RM74 psf. The sale price is 2.17 times that, roughly 7% a year over 11 years
• Gain: from the price, Sunsuria deducts the RM163.44 million book value, RM7.84 million of deal expenses and RM79.31 million for the infrastructure, site clearance and other works. That leaves a RM66.24 million gross gain and RM50.34 million after 24% income tax; the land is held as trading stock, so real property gains tax does not apply
• Effect on Sunsuria: on its FY2025 figures, pro forma earnings per share rise from 4.13 sen to 9.75 sen and net assets per share from RM1.20 to RM1.26. The price is 29.4% of the group's net assets
• Use of the money: the infrastructure and other post-completion works, working capital and bank borrowings. The split is not decided, and the money is to be spent within six months of full receipt

Other data-centre land sales

• MRCB, Cyberjaya (August 2026): about 45.81 acres, after re-alienation, to Digital Cosmos Malaysia for RM419.05 million, about RM210 psf
• Eco Business Park 7, Port Dickson (September 2026): 221.665 acres to Tera Data Centers for about RM1.013 billion, about RM105 psf (our report)
• EcoWorld, 2024–2026: Microsoft paid RM75 psf for 123 acres at Kulai (June 2024) and RM115 psf for 139 acres in Iskandar Malaysia (February 2025); Google's Pearl Computing paid RM105 psf for 58 acres at Puncak Alam (February 2025); KNBDC paid RM130 psf for 50 acres at Kulai (April 2026)
• Gamuda, Port Dickson (May 2025): 389 acres to Pearl Computing for RM455 million, about RM27 psf

Amazon Web Services opened its Asia Pacific (Malaysia) Region, with three Availability Zones, in August 2024, and plans to invest US$6.2 billion (about RM29.2 billion) in Malaysia through 2038.

*Chart: industrialandland.com.my, from Bursa filings and our earlier reports.*