KUALA LUMPUR: NCT Alliance Bhd
has entered a conditional share sale agreement to acquire 100% equity interest in NCT World Sdn Bhd for RM490.26mil.
In a statement, the property group said the acquisition of NCT World is expected to be completed in the fourth quarter of 2025.
NCT said the consideration will be settled via the issuance of up to 104.2 million new ordinary shares and 917.2 million new redeemable convertible preference shares (RCPS), both priced at RM0.48 per share.
It added that this structure minimises cash outlay, preserves reserves for ongoing and future property projects, and helps manage earnings dilution given the time needed to realise contributions from NCT World’s projects.
Upon completion, NCT World will become a wholly-owned subsidiary of the group.
“This acquisition enables us to streamline NCT Smart Industrial Park (NSIP) and NCT InnoSphere (NIS) under the company and also to strengthen our industrial property footprint, while ensuring long-term growth visibility.
“With NSIP and NIS, we are introducing next-generation industrial parks that align with Malaysia’s aspirations in sustainability, technology, and regional trade connectivity.
“This transaction will significantly expand our land bank up to 1,350 acres, ensuring a healthy pipeline extending to 2030 and beyond, which complements our existing developments while unlocking immediate profitability from ongoing projects,” NCT executive chairman and group managing director Datuk Seri Yap Ngan Choy said.
He said the exercise would enhance the company’s financial position, with its GDV rising from about RM5.36bil to RM10.17bil.
He added that, supported by low gearing and a strong balance sheet, the company has ample capacity to fund its projects and expansion plans.
“With the development of NSIP currently underway, we look forward to its positive contribution to the Group’s profitability while NIS builds the foundation for long-term growth,” Yap said.
