Karyon buys Masai factory for RM8.61m, about RM223 psf
- Karyon Industries' subsidiary Hsing Lung completed its RM8.61 million purchase of a freehold detached factory at No. 10 Jalan Masai Lama, Bandar Seri Alam, Masai, on 28 September 2026, for manufacturing and warehousing near its existing plant.
- The land is 3,587.24 sq m (about 38,613 sq ft), so the price is about RM223 psf of land, 2.2% below VPC Alliance (JB)'s RM8.8 million valuation; the factory is 31 years old.
- NAPIC records a detached factory on the same road sold for about RM221 psf of land in May 2026.
Karyon Industries Bhd has completed its RM8.61 million purchase of a freehold detached factory at No. 10, Jalan Masai Lama, Bandar Seri Alam, Masai, Johor, through its wholly owned subsidiary Hsing Lung Sdn Bhd. The sale and purchase agreement was signed on 2 July 2026 and the deal completed on 28 September. Hsing Lung, which makes PVC compounds and industrial chemical products, will use the property for manufacturing and warehousing. It sits close to the group's existing head office and factory and is reached from the Pasir Gudang Highway.
The property
- Title: H.S.(D) 208324, PTD 110015, Mukim Plentong, District of Johor Bahru; freehold industrial land with no encumbrances
- Land and building: 3,587.24 sq m (about 38,613 sq ft) with a 31-year-old detached factory. The built-up area was not disclosed
- Permitted use: the title limits the land to factories for light industrial purposes. The seller used it as its factory and store
- Seller: Tanah Temasik Sdn Bhd, a marine engineering, heat exchanger and tube-bending company wholly owned by Singapore's Boilermaster Holdings Pte Ltd
- Valuation: RM8.8 million by VPC Alliance (JB) Sdn Bhd as at 22 June 2026, using the comparison and contractor's methods. Karyon paid RM190,000, or 2.2%, less
The deal
- Payment: an RM175,600 earnest deposit under an option to purchase on 13 February 2026; RM685,400 on signing, from which RM258,300 (3%) was held back for real property gains tax; and the RM7.749 million balance within three months
- Funding: RM2.61 million from internal funds and RM6 million of bank borrowings. On Karyon's March 2025 accounts, pro forma gearing rises from 0.07 to 0.12 times
- Size: 6.76% of Karyon on the highest Bursa percentage ratio
The numbers
- Price per sq ft of land: RM8.61 million ÷ 38,613 sq ft ≈ RM223 psf
- Same road: NAPIC's free Open Sales Data records a detached factory on Jalan Masai Lama, in Taman Perindustrian Kota Putri, sold in May 2026 for RM5.3 million on 2,231 sq m, about RM221 psf of land
- Bandar Seri Alam: two semi-detached factories changed hands at about RM198 psf (July 2025) and RM238 psf (January 2026) of land
- Mukim Plentong: the nine freehold detached factories recorded for 2025 and 2026 ranged from about RM57 to RM255 psf of land. NAPIC's free data is still incomplete for recent months
Cover map: EPIQ, via EdgeProp.
Setting up a factory or plant? Buying / selling industrial property or land in Malaysia? Reach out to Scott now.
Related news
TMK Chemical to buy CCM and its nine plants for RM939.9m
TMK Chemical will buy Chemical Company of Malaysia from Batu Kawan Bhd for RM939.9m in cash and shares, taking nine plants on about 122 acres in five states.
Scientex buys 503 acres in Pulai, Johor, at RM26.50 psf
Scientex is buying 502.6 acres of freehold land in Mukim Pulai, Johor, from a Leong Hup group company for RM580.2m, its fourth Pulai land purchase since 2017.
China’s S J leases 8.5 acres in Batu Kawan for US$70m plant
PEN S J Electronics, the Penang arm of China’s S J Electronics, is leasing about 8.5 acres in BKIP3 from PDC for a US$70m chip-materials plant with 1,000 jobs.