PETALING JAYA: YNH Property Bhd
has deferred approximately RM34.41mil in coupon payments and accumulated coupon obligations on its two outstanding perpetual securities tranches, in accordance with the terms of its trust deed.
The deferments comprise RM7.87mil due on the RM87mil tranche, originally payable on July 30, 2026, and RM26.54mil on the RM263mil tranche, originally due on Aug 7, 2026. The payments have been pushed back to Jan 29, 2027, and Feb 8, 2027, respectively.
The property developer said the deferment was exercised under the contractual provisions of its perpetual securities programme and that it had fulfilled all conditions required under the trust deed.
YNH said the move is aimed at preserving cash ahead of the proposed RM455mil disposal of its prime freehold land along Jalan Sultan Ismail, Kuala Lumpur, announced on July 8.
Upon completion of the land sale, the group intends to use the proceeds to fully redeem the perpetual securities and settle all outstanding coupon obligations, including accrued interest.
In the meantime, YNH said the deferment will allow it to maintain liquidity to support its ongoing property developments and broader asset portfolio while awaiting completion of the land sale.
