PETALING JAYA: NCT Alliance Bhd has secured shareholders’ approval for the acquisition of NCT World Sdn Bhd, marking a significant milestone in the group’s expansion journey.
The company held an extraordinary general meeting (EGM) on Wednesday, where all four resolutions tabled were passed, reflecting strong shareholder support for NCT Alliance’s long-term growth strategy.
Among the key resolutions approved was the proposed acquisition of 100% equity interest of NCT World Sdn Bhd for a purchase consideration of up to RM490.3 million.
It will be satisfied through the issuance of up to 104.2 million new ordinary shares and 917.2 million new redeemable convertible preference shares, both at an issue price of 48 sen per share.
The acquisition will bolster NCT Alliance’s development pipeline by adding two major industrial projects, NCT Smart Industrial Park (NSIP) and NCT InnoSphere (NIS), to its portfolio. This strategic move allows NCT Alliance to diversify beyond residential and commercial developments and establish a strong foothold in the high-growth industrial parks sector.
Collectively, NSIP and NIS represent a remaining gross development value (GDV) of about RM4.8 billion over the next six years, supported by an additional landbank of around 855 acres acquired through the transaction, providing the company with flexibility for future development and expansion.
NCT Alliance executive chairman and group managing director Datuk Seri Yap Ngan Choy said: “We are deeply encouraged by the strong support from our shareholders, which gives us a clear mandate to move forward. We are focused on disciplined execution as we integrate NCT World into the group and accelerate our development pipeline. This milestone sets us on the path to becoming a more diversified and resilient developer while reinforcing our value proposition and supporting sustainable, long-term value creation for all stakeholders.
“We remain committed to building a future-ready NCT Alliance that makes a meaningful impact across our markets and communities.”
Located within the Integrated Development Region in South Selangor, NSIP is Malaysia’s first certified managed industrial park and has achieved strong sustainability credentials alongside robust take-up from advanced manufacturing and logistics players. Phases 1, 2, 3 and 5 of NSIP carry a combined GDV of RM4.2 billion, while Phase 4 forms part of the company’s long-term development pipeline.
Meanwhile, NIS has commenced phased development and is recording encouraging interest from both domestic and cross-border investors. Strategically positioned near the Malaysia-Thailand border, NIS serves as a key industrial gateway in northern Malaysia, with an estimated GDV of RM605 million.
