SC Estate Builder seeks extension for six‑proposal property, RE and acquisition circular submission

PETALING JAYA (July 2): SC Estate Builder Bhd has applied to Bursa Malaysia Securities for an extension of time to submit a combined circular to shareholders on six proposals, including its planned diversification into property investment and renewable energy.

Extension for multiple proposals circular

On behalf of the board, M & A Securities said in Bursa filing on June 30 that an application has been submitted to extend the deadline to Sept 30, 2026 to lodge a draft combined circular in relation to the following:

1) Proposed renewable energy diversification
2) Proposed acquisition
3) Proposed property investment diversification
4) Proposed amendments
5) Proposed joint venture
6) Proposed disposals

The company noted that this follows earlier announcements on March 30, and April 16, which granted an extension until June 30 to comply with the circular submission requirement for the proposed disposals and the proposed property investment diversification.

Property and renewable energy initiatives (as disclosed)

According to its recent filings and quarterly report, SC Estate Builder has undertaken and announced various construction, property and solar-related activities, including:

a) A joint venture via wholly owned unit SC Estate Energy Sdn Bhd with Vanguard North Sdn Bhd to develop four parcels of land in Kubang Pasu, Kedah, with an estimated gross development value of about RM663 million.

b) A collaboration agreement involving subsidiaries SC Estate Construction Sdn Bhd and SC Estate IBS Sdn Bhd for a building project comprising 510 affordable houses in Alor Setar, Kedah.

c) Sale and purchase agreements for several vacant resort‑zoned parcels in Alor Setar and a leasehold property in Melaka.

d) Participation in large‑scale solar programmes through joint ventures and a 4MW solar photovoltaic plant project in Arau, Perlis.

The group has stated that these initiatives are aligned with its longer‑term plans to expand in renewable energy and real estate, including targets for future affordable housing with rooftop solar and related infrastructure, as well as increased solar power capacity and broader environment, social and governance objectives with a net‑zero carbon ambition.

1Q FY2027 results

In a separate quarterly report yesterday for the first quarter ended April 30, SC Estate Builder reported a 40% year‑on‑year increase in revenue to RM11.2 million from RM8.0 million, mainly attributed to higher sales from trading of building materials.

Profit before tax declined to RM779,000 from RM1.01 million in the corresponding quarter a year earlier, while profit for the period eased year‑on‑year to RM779,000 from RM795,000. Basic earnings per share remained at 0.02 sen.

As at April 30, the group recorded net assets of RM49.55 million, equivalent to 1 sen per share, compared with RM48.77 million as at Jan 31, 2026. Trade receivables stood at RM11.64 million versus RM10.60 million previously, while cash and bank balances were RM2.25 million compared with RM3.87 million at the end of the last financial period.

Total assets were RM52.24 million against total liabilities of RM2.68 million. Land held for property development and land held for sale together amounted to nearly RM30 million of the group’s asset base.

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