Puncak Niaga plans RM237.15m Kuala Selangor land sale; CHGP, UCSI partner on Melaka education hub

Puncak Niaga proposes RM237.15m Kuala Selangor land disposal to pare debt

Puncak Niaga Holdings Bhd is proposing to sell two adjoining plots of land in Kuala Selangor, Selangor, to Alpha Galaxy Sdn Bhd for RM237.15 million, with the proceeds earmarked mainly for repaying bank borrowings, according to a Bursa Malaysia filing dated Aug 18.

The two plots, Lot 7095 measuring 228,717 sq m and adjoining Lot 7094 measuring 229,290 sq m, together cover 458,007 sq m, or about 113 acres, and are largely planted with oil palm. Puncak Niaga has held them as investment properties since 2015. The company said it does not intend to develop the land itself or enter into a joint venture, as such arrangements would require substantial capital. The buyer intends to undertake a mixed development on the site. The consideration is to be settled over 48 months, with the payment schedule not tied to the progress of the planned development.

The proposed disposal is expected to generate about RM216.22 million in net proceeds, after estimated disposal costs of RM2 million and real property gains tax of RM18.93 million. The proceeds would help reduce borrowings, with the group’s bank borrowings standing at RM1.05 billion as at March 31, 2026. Puncak Niaga shares closed unchanged at 17 sen on Tuesday, giving the company a market capitalisation of RM76.4 million, The Edge reported.

CHGP, UCSI plan education hub in Melaka

Chin Hin Group Property Bhd (CHGP) is partnering with UCSI Group to develop and operate an integrated education hub within CHGP’s 19.3-acre waterfront development in the Melaka Waterfront Economic Zone. CHGP will take a 30% strategic equity stake in the joint venture (JV), to be established by its subsidiary Chin Hin PMC Sdn Bhd and UCSI, which will hold the remaining 70%.

The JV will develop a school campus on a dedicated land parcel valued at RM11.22 million. The campus, UCSI’s first in Melaka, will house UCSI International School and Sekolah Sri UCSI, with capacity for up to 3,000 students and boarding facilities for 300. The school will serve as the education anchor for CHGP’s wider mixed-use waterfront development, which is planned to include serviced residences, retail and lifestyle offerings, education facilities and a future healthcare component. Under the arrangement, UCSI will manage the school’s education and operations, while CHGP will lead development of the campus. CHGP said its equity participation would provide exposure to the education sector’s long-term growth and recurring earnings potential while drawing on UCSI’s operational expertise.

The school is planned to offer the International Primary Curriculum, Cambridge IGCSE and Cambridge A-Levels, alongside a blended national and Cambridge curriculum. Proposed facilities include AI and technology laboratories, robotics centres, performing arts facilities and sports amenities. CHGP said the partnership forms part of its strategy to activate its landbank through integrated developments and diversify its longer-term growth drivers.

Lagenda’s 2Q net profit rises to RM56.57m as Johor townships drive record unbilled sales

Lagenda Properties Bhd reported second-quarter net profit of RM56.57 million, up from RM45.24 million a year earlier, as revenue rose to RM336.24 million from RM238.89 million on higher property development revenue, according to a Bursa Malaysia filing on Tuesday. The results were unaudited.

Property development revenue rose to RM288.76 million from RM196.22 million, which the developer attributed mainly to higher revenue recognition from Lagenda Ardea Phase 2 in Bernam Jaya, Selangor, Seri Embun in Kota Tinggi, Johor, and La’ Lumière Phase 1A in Kulai, Johor, as construction progressed and sales strengthened. The group secured RM578.3 million in bookings during the quarter and confirmed property sales of RM503.8 million. For the first half, property sales totalled about RM876.3 million, with Johor accounting for roughly half, led by take-up in Kulai and Kota Tinggi.

As at June 30, unbilled sales stood at about RM1.75 billion, which Lagenda described as a record high, against 3,998 acres of unlaunched land carrying a remaining gross development value of RM10.28 billion. The group said upcoming launches include new townships in Sungai Petani, Kedah, and Senawang, Negeri Sembilan. It declared a first interim dividend of 3.5 sen per share, amounting to about RM29.13 million, payable on Nov 17.

Also on the radar today

Today's roundup

Corporate property activity led the latest news, with Puncak Niaga proposing a RM237.15 million Kuala Selangor land disposal to reduce borrowings, while Chin Hin Group Property and UCSI Group are partnering on an education hub to anchor CHGP’s 19.3-acre Melaka waterfront development. Lagenda Properties reported higher second-quarter profit and record unbilled sales of about RM1.75 billion, while Radium Development’s quarterly profit also rose sharply. Elsewhere, Star Media Group returned to profit, OCR Group topped out its fully sold Residensi Akasia, and The Federal Kuala Lumpur reopened following refurbishment. On infrastructure, the government plans a RM60 million bridge and at least 200 feeder buses serving the RTS Link at Bukit Chagar. MRT Corp also appointed Wan Ahmad Dahlan as chairman, while Tencent Cloud announced plans to establish its first Malaysian Cloud Region in Johor.