KUALA LUMPUR, NCT Alliance Bhd (NCT) has signed a conditional share sale agreement (SSA) to acquire the entire equity interest in NCT World Sdn Bhd (NCT World) for a total consideration of RM490.26 million.
Datuk Seri Yap Ngan Choy.
In a statement, NCT said the acquisition is expected to be completed in the fourth quarter of 2025 (4Q 2025). The purchase 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 48 sen per share. “This structure minimises cash outflow and allows NCT to preserve reserves for ongoing and future property development projects,” the company said.
NCT added that issuing RCPS will help manage potential earnings dilution, aligning with the timeline needed to realise contributions from NCT World’s projects.
The group described the acquisition as a transformational milestone, expanding its portfolio beyond residential and commercial developments into the rapidly growing industrial property segment under NCT World. Key projects under NCT World include the NCT Smart Industrial Park (NSIP) and NCT InnoSphere (NIS).
NCT executive chairman and group managing director Datuk Seri Yap Ngan Choy said the deal reinforces the group’s position as a leading Malaysian property developer.
“This acquisition consolidates NSIP and NIS under the group, strengthens our industrial property footprint, and provides long-term growth visibility,” he said.
“It will expand our landbank to 546.33 hectares, ensuring a strong pipeline through 2030 and beyond, while unlocking immediate profitability from ongoing projects. The transaction will also boost our financial strength, increasing gross development value (GDV) from RM5.36 billion to RM10.17 billion,” he added.
