Chin Hin Group Property extends Johor JDA conditional period to December 9

PETALING JAYA (June 10): Chin Hin Group Property Bhd (CHGP) said the conditional period for its joint development agreement (JDA) with Kelana Megah Sdn Bhd has been further extended by six months, as conditions precedent under the agreement have yet to be fully satisfied.

In a Bursa Malaysia filing yesterday, CHGP said its subsidiary Chin Hin Property (Stulang) Sdn Bhd and Kelana Megah had mutually agreed to extend the conditional period from June 10, 2026 to December 9, 2026, following the original expiry yesterday.

The extension is the latest in a series of timeline adjustments, with prior supplemental arrangements made on June 9, 2025 and December 9, 2025.

The JDA, first announced on Sept 10, 2024, involves the proposed joint development of a leasehold parcel in Bandar Johor Bahru, Johor, held under H.S.(D) 605698, Lot PTB 20379, measuring approximately 17,342 sq m (about 186,668 sq ft).

The agreement is between Kelana Megah Sdn Bhd and CHGP’s subsidiary Chin Hin Property (Stulang) Sdn Bhd.

Kelana Megah Sdn Bhd is a wholly owned subsidiary of Duty Free International Limited, which has also issued a parallel announcement on the Singapore Exchange (SGX) confirming the same extension and updated conditional timeline.

Atlan Holdings Bhd, which is linked to the broader structure through Duty Free International, likewise issued a corresponding Bursa filing noting the extension of the conditional period to Dec 9, 2026.

All filings confirm that the conditions precedent under the JDA were not fully satisfied by the June 9, 2026 expiry date, triggering the mutual agreement to extend the conditional period.

Aside from the revised timeline, all other terms of the JDA remain unchanged and continue in full force and effect.

The parties retain the option to further extend the conditional period beyond Dec 9, 2026, subject to mutual agreement under the terms of the JDA.

The proposed joint development remains conditional and has not commenced.

DFIL’s SGX filing reiterates that there is no certainty the project will proceed to completion, and advises shareholders and investors to exercise caution when dealing in the company’s securities.

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