S P Setia extends conditional period for RM273.5 mil Beranang land disposal to Mah Sing to Nov 2

PETALING JAYA (Aug 4): S P Setia Bhd has extended the conditional period for its proposed RM273.51 million disposal of approximately 275.40 acres of freehold land in Mukim Beranang, Ulu Langat, Selangor, to two wholly owned subsidiaries of Mah Sing Group Bhd by three months to Nov 2, 2026.

In a Bursa Malaysia filing on Monday (Aug 3), the property developer said its indirect wholly owned subsidiary, Petaling Garden Sdn Bhd (PGSB), and purchasers Mont Meridian Development Sdn Bhd and Peninsular Connection Sdn Bhd had mutually agreed to amend certain terms and conditions of the sale and purchase agreements (SPAs).

The extended conditional period, which was originally due to expire on Aug 3, 2026, will now end on Nov 2, 2026, to allow the parties additional time to fulfil the conditions precedent under the SPAs.

The parties also agreed that, notwithstanding the completion period under the SPAs and the automatic one-month extension after the agreements become unconditional, completion of the transaction must take place no later than Dec 28, 2026.

Save for the revised timeline, all other terms and conditions of the SPAs remain unchanged, S P Setia said.

The proposed disposal, first announced on Nov 3, 2025, involves the sale of the 275.40-acre freehold parcel for a cash consideration of RM273,514,214.79 on a willing-buyer, willing-seller basis.

Mah Sing made a corresponding Bursa Malaysia announcement on Monday, confirming the same extension of the conditional period and revised completion timeline for the proposed acquisition.

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