SELAMAN SDN BHD is a private company established in 1977 through a joint venture between Yayasan Selangor and Syarikat Shahman Sdn Bhd. In 1986, the shares of Syarikat Selaman Sdn Bhd were transferred to Arab-Malaysian Development Berhad (AMDB) and increased the paid-up capital to RM20 million.
On 20th August 1988, the Foreign Investment Committee approved the acquisition of shares owned by Yayasan Selangor to Perbadanan Kemajuan Negeri Selangor (PKNS). allowed amounting to RM40 million.
AMDB on 16 March 2011 sold its entire 40% stake to PUNCAK EXOTICA SDN. BHD.