KUALA LUMPUR, Aug 21 (Bernama) — NCT Alliance Bhd (NCT) has entered into a conditional share sale agreement (SSA) for the acquisition of 100 per cent equity interest in NCT World Sdn Bhd (NCT World) for a total purchase consideration of RM490.26 million.
In a statement today, it said the acquisition of NCT World is targeted to be completed in the fourth quarter of 2025 (4Q 2025).
“The purchase consideration will be satisfied through the issuance of up to 104.2 million new ordinary shares and 917.2 million new redeemable convertible preference shares (RCPS), both at an issue price of 48 sen per share.
“This allows NCT to minimise its cash outlay to fund the acquisition, thereby preserving its cash reserves for ongoing and future property development projects,” it said.
NCT said the issuance of RCPS would facilitate better management of the dilutive effects on earnings, taking into account the timing required to realise earnings contributions from the NCT World projects.
The property developer said the acquisition marks a transformational milestone for NCT as it strengthens its portfolio beyond residential and commercial developments through this foray into the fast-growing industrial development segment under NCT World.
The projects under NCT World include the NCT Smart Industrial Park (NSIP) and NCT InnoSphere (NIS).
Meanwhile, NCT executive chairman and group managing director Datuk Seri Yap Ngan Choy said the acquisition further solidifies the group’s reputation as a leading property developer in Malaysia.
“This acquisition enables us to streamline NSIP and NIS under the company, and also to strengthen our industrial property footprint, while ensuring long-term growth visibility.
“This transaction will significantly expand our landbank up to 546.33 hectares, ensuring a healthy pipeline extending to 2030 and beyond, which complements our existing developments while unlocking immediate profitability from ongoing projects,” he said.
He added that the acquisition would enhance the company’s financial position, with its gross development value increasing from approximately RM5.36 billion to about RM10.17 billion.
— BERNAMA
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