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Axteria Group Bhd has proposed to acquire an 80% stake in Niaga Sari Sdn Bhd (NSSB) for RM35 million in cash, as part of its strategy to strengthen construction capabilities and support its property development business. In a filing on Thursday, the group said it had signed a conditional share sale agreement with six vendors, including Datuk Chan Chee Hong, for the acquisition of 800,004 shares, representing an 80% equity interest in NSSB. Upon completion, NSSB will become a subsidiary of Axteria. The purchase consideration of RM35 million was arrived at on a willing-buyer-willing-seller basis, taking into account NSSB’s RM567.4 million order book and a RM9.2 million profit guarantee over two years. This implies a price-to-earnings multiple of about 9.5 times. The other vendors involved are Gwi Chin Fatt, Datuk Wong Gian Kui, Periasamy Ganapathy, Gwi Xian Yi, Gwi Huan Yi, and Chan Khai Young. Under the terms, RM5 million will be paid upfront, while the remaining RM30 million will be placed in an escrow account, subject to fulfilment of the profit guarantee. Incorporated in 1985, NSSB is engaged in building construction and has completed projects worth about RM1 billion to date, ranging from factories to high-rise residential developments. It currently has ongoing and upcoming projects worth a combined RM567.4 million, including developments in Kelantan and Kuala Terengganu. For the financial year ended June 30, 2025, NSSB recorded a net loss of RM2.13 million, with net assets of RM12.33 million. Axteria said the acquisition is expected to complement its property development and management business, supporting expansion through joint ventures and land acquisitions while leveraging NSSB’s existing order book. The group added that the move aligns with its strategy to pursue growth opportunities without significant upfront capital, and is expected to contribute positively to future earnings. Axteria shares closed unchanged at nine sen, giving the group a market capitalisation of about RM71 million.

Hong Seng Consolidated Bhd’s wholly-owned subsidiary AIMAX Capital Sdn Bhd has entered into debt settlement agreements totalling RM63.61 million with four borrowers. In a filing with Bursa Malaysia, the group said AIMAX Capital signed the agreements on Thursday with Datuk Liu Han Ming, Von Victory Sdn Bhd, Chia Yan Mei, and Nah Choon Jeck. The settlement involves the full and final discharge of the outstanding principal debt, which will be satisfied through the transfer of 184 serviced apartment units located in Kajang, Selangor. The properties carry an agreed total value of RM62.48 million. This results in a remaining differential sum of RM1.12 million under the overall RM63.61 million debt settlement. Liu Han Ming’s RM36.95 million debt will be settled with 109 units valued at RM36.40 million, leaving a balance of RM548,193.95. Von Victory Sdn Bhd’s RM6.17 million will be settled with 18 units worth RM6.06 million, with a RM114,570.27 differential. Chia Yan Mei’s RM6.24 million obligation will be settled with 14 units valued at RM6.11 million, leaving RM127,035.26 in difference. Meanwhile, Nah Choon Jeck’s RM14.24 million debt will be settled with 43 units worth RM13.91 million, resulting in a RM332,507.88 gap. Under the agreement, AIMAX Capital will assign its rights and interests in the properties to its wholly owned subsidiary AIMAX Assets Sdn Bhd. The unit, which is involved in investment holdings and property investments, will manage and streamline ownership of the assets.

Mah Sing Group Bhd is revising the master plan for its Southbay City development in Batu Maung, following approval to increase the plot ratio. The revision lifts the project’s gross development value (GDV) to about RM1.365 billion. Its property subsidiaries CEO, Yeoh Chee Beng, said the group received approval from local authorities in 2025 to amend key development parameters. A revised master plan for the remaining 17 acres will be submitted soon, aligned with current market conditions and the company’s evolving priorities. Yeoh said the updated plan will shift focus towards serviced apartments, replacing a larger office component in the original design, in response to stronger demand in this segment. He added that the remaining land is expected to unlock greater value through a more balanced and market-driven development mix, while tapping into Penang’s ongoing economic growth. Launched in 2009, Southbay City marked Mah Sing’s first integrated township. Its initial phase featured 284 three-storey superlink homes within a gated and guarded community. In 2025, the group introduced M Zenni, a freehold mixed development comprising 10 commercial shoplots and 494 serviced apartment units in a 33-storey tower. Across the group, Mah Sing is targeting RM2.76 billion in sales for 2026, up from RM2.51 billion in 2025, supported by new launches across key growth areas. These include projects in Setapak, Puchong, Penang, Johor, and Klang Valley, along with upcoming phases of existing developments. Yeoh noted that the group’s fast-turnaround model will support a robust pipeline of launches in 2026, including projects acquired as recently as last year.