Eco World Development Group Bhd (EcoWorld) and NS Corporation (NS Corp) are set to investigate a possible partnership for creating industrial water supply solutions aimed at industrial parks.
EcoWorld announced it will encompass Eco Business Park VII (EBP VII) and any additional industrial parks that EcoWorld might establish in Negeri Sembilan moving forward.
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EcoWorld has signed a memorandum of understanding (MoU) with NS Corp, a government statutory entity established to promote, encourage, manage, and coordinate investments and economic sectors in Negeri Sembilan, which includes the development of Malaysia Vision Valley 2.0 (MVV 2.0).
The MoU signing acknowledges a new opportunity for collaboration between the public and private sectors to hasten the development of water infrastructure in Negeri Sembilan for industrial purposes. In accordance with the MoU, the parties will collaborate on feasibility studies regarding the potential establishment of a desalination water treatment facility as an alternative and additional source of industrial water supply for EcoWorld’s industrial parks.
EcoWorld stated that the partnership would improve the competitiveness of both the state and EcoWorld’s initiatives, strengthening Negeri Sembilan’s status as a prime location for high-value manufacturing and tech investments, including data centres. It stated that the MoU lasts for one year, with the possibility of extension for another period based on mutual consent between the parties.
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EcoWorld reported that from 2023 to June 2026, Negeri Sembilan secured RM41.5 billion in approved investments, with domestic direct investments (DDI) making up RM24.2 billion (58 percent) and foreign direct investments (FDI) totaling RM17.3 billion (42 percent). Most of these investments are in MVV 2.0, which has evolved into one of Malaysia’s rapidly growing industrial corridors, backed by its closeness to Kuala Lumpur, attractive land costs, enhancing infrastructure, and a growing industrial foundation.
EcoWorld reported that EBP VII, located in MVV 2.0, has seen "overwhelming demand," achieving RM2 billion in sales within less than a year of its launch in November 2025.
Earlier, EcoWorld Development Group has secured RM850 million ($209 million) via a Sukuk Wakalah issuance, with funds designated for working capital, capital expenses, and land purchases. The Malaysian property developer announced that its fully owned subsidiary Eco World Capital finalized the issuance under its current RM3 billion rated Sukuk Wakalah Program.
The RM850 million is structured in three portions: RM150 million for five years, RM550 million for seven years, and RM150 million for ten years. This signifies the fifth release under the Shariah-compliant program, designed based on the Wakalah Bi Al-Istithmar principle.
EcoWorld has expanded into industrial property, acquiring 935 acres in Kulai for RM815 million and collaborating with SD Guthrie and others to distribute development expenses. The approach increasingly focuses on industrial parks and the demand for data centers.
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The staggered maturities provide EcoWorld with medium- and long-term funding to facilitate ongoing landbank growth. In 2025, it secured RM600 million in rated sukuk, finalized a RM742 million land acquisition in Semenyih, and consented to purchase 1,195 acres in Negeri Sembilan for RM573 million.