GDB revises timeline for land acquisition conditions precedent

PETALING JAYA (April 2): GDB Holdings Bhd (GDB) has entered into a supplementary agreement to amend the conditions precedent timeline for its proposed acquisition of three parcels of land in Kuching, Sarawak.

In a filing with Bursa Malaysia today (Thursday, April 2) the group said its wholly owned subsidiary, GDB Development Sdn Bhd, had on April 2, 2026 executed the agreement with Sport Pavillion Sdn Bhd.

Revised conditions precedent timeline

Under the supplementary agreement:

*The timeframe to obtain written consent from the Director of Lands and Surveys for the transfer of Lot 19102
*As well as the extension of time for development of Lot 19102

Has been revised from:

*Nine months → Two months from the date of the sale and purchase agreement (SPA)

The parties may mutually agree in writing to a further extension, if required.

Transaction status

GDB noted that:

*The revision relates to the SPA dated Feb 13, 2026
*All other terms and conditions remain unchanged
*The original agreement continues to be in full force and effect

Context

The announcement forms part of Main Market-listed GDB’s earlier disclosure on the proposed acquisition of three land parcels, with this update specifically addressing the timing of regulatory approvals linked to one of the lots.

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