Y&G's Sepang land acquisition deemed complete; group posts RM3.3 mil 1Q turnaround profit

PETALING JAYA (June 5): Y&G Corp Bhd's acquisition of three parcels of leasehold land in Sepang, Selangor has been deemed completed, marking the conclusion of a three-asset acquisition exercise announced on August 11, 2025.

The Sepang acquisition, involving approximately 38.45 hectares (95.02 acres) from Nurani Saujana Sdn Bhd for RM206 million, was deemed completed yesterday upon fulfilment of the respective obligations by all parties under the sale and purchase agreement.

Three acquisitions concluded

The completion of the Sepang parcel follows the earlier conclusion of two other components of the same exercise. The acquisition of Kuala Selangor land (KS Land), measuring approximately 148.52 hectares (367 acres) in Mukim Ujong Permatang for RM189 million, and the purchase of a 100% equity interest in Konsep Wawasan Sdn Bhd (KWSB) for RM82 million, were both deemed completed on April 1, 2026.

Shareholders approved all three acquisitions at an extraordinary general meeting on Jan 7, 2026. The Sepang deal had been subject to a three-month extension mutually agreed on April 6, 2026, extending the SPA deadline to July 6, 2026, before being completed on June 4.

The three acquisitions carry a combined consideration of approximately RM477 million and are classified as related-party transactions as disclosed under Chapter 10 of Bursa Malaysia's Main Market Listing Requirements.

1Q financial results

Separately, Y & G reported, last Thursday, a turnaround in its first quarter ended March 31, 2026, swinging from a loss to a profit on higher revenue from ongoing and newly launched development projects.

Revenue rose to RM33.38 million in 1QFY26 from RM5.44 million a year earlier, driven by higher completion progress of existing projects and a newly launched development in Rawang with a gross development value of RM383.8 million.

Profit after tax came in at RM3.31 million, compared with a loss of RM1.83 million in 1QFY2025. Earnings per share stood at 1.52 sen versus a loss per share of 0.84 sen previously. Net assets per share rose to RM1.48 from RM1.46 as at end-December 2025. No dividend was declared.

Unbilled sales and prospects

The group reported unbilled sales of RM134.13 million as at end-1QFY2026, providing visibility on future earnings recognition.

Management adopted a cautious outlook for 2026, noting that Malaysia's property sector is shifting towards stricter sustainability, affordability and regulatory compliance requirements.

The group added that it remains mindful of global economic uncertainties and will continue to take measures to ensure effective execution of its business model.

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