YNH extends RM170 mil land disposal to Sunway unit by another three months

PETALING JAYA (June 11): YNH Property Bhd has signed a fifth supplemental agreement to extend the conditional period for the proposed disposal of a freehold vacant land parcel in Kuala Lumpur to Sunway Living Space Sdn Bhd for RM170 million.

In a Bursa Malaysia filing yesterday, YNH said its wholly owned subsidiary Kar Sin Bhd had entered into Supplemental Agreement 5 (SA5) with Sunway Living Space, registered proprietor Imbuhan Sempurna Sdn Bhd and first beneficial owner Great Wall Park Sdn Bhd.

Under the latest agreement, the conditional period for the sale and purchase agreement has been extended by a further three months from June 12, 2026 to Sept 12, 2026.

The proposed disposal was first announced in May 2023 and has since been amended through four earlier supplemental agreements.

YNH said the purchase price remains unchanged at RM170 million upon fulfilment of the conditions precedent and completion of the transaction.

The parties have also agreed to revise certain provisions relating to additional consideration payable under the transaction.

In addition, Sunway Living Space has granted Kar Sin the right, but not the obligation, to apply for a new development order for the land involving a plot ratio exceeding five within one year from the unconditional date, at Kar Sin’s own cost and expense.

YNH said there are no material changes to the financial effects arising from the latest supplemental agreement beyond those previously disclosed.

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