YNH extends conditional period for RM170m Sri Hartamas land sale to Dec 31

PETALING JAYA (Sept 11): YNH Property Bhd has again extended the conditional period for the proposed RM170 million cash sale of a 5.098-acre freehold land parcel in Desa Sri Hartamas, Kuala Lumpur, to Sunway Living Space Sdn Bhd, this time to Dec 31, 2026.

The previous deadline was Sept 12.

In a Bursa Malaysia filing on Friday (Sept 11), YNH said its wholly owned subsidiary Kar Sin Bhd entered into a sixth supplemental agreement (SA6) on Thursday (Sept 10) with registered proprietor Imbuhan Sempurna Sdn Bhd, first beneficial owner Great Wall Park Sdn Bhd and purchaser Sunway Living Space.

Under SA6, Kar Sin is required to use its best endeavours to fulfil the outstanding conditions precedent under the sale and purchase agreement (SPA) by Dec 31.

If the conditions remain unfulfilled by then, Sunway Living Space may exercise its rights and remedies under the SPA, including terminating the agreement. Any further extension of the conditional period beyond Dec 31 must be mutually agreed by the parties in writing.

YNH did not specify in its latest announcement which conditions precedent remain outstanding.

Deal signed in May 2023

The original SPA was signed on May 12, 2023 for the disposal of the freehold vacant land for RM170 million cash.

The approximately 20,630.474 sq m, or 5.098-acre, property is held under individual title H.S.(D) 47941, P.T. 48632, Mukim of Kuala Lumpur, and is located in Desa Sri Hartamas.

The SPA has since been supplemented by agreements dated Nov 10, 2023; May 10, 2024; May 28, 2025; Nov 11, 2025; June 11, 2026; and Sept 10, 2026.

YNH said all other terms of the SPA, as previously amended, remain unchanged and in full force.

The company added that SA6 does not result in any additional liabilities or guarantees, or any material change to the financial effects of the proposed disposal, apart from those disclosed in its May and November 2023 announcements.

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