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Economy

Puncak Niaga sells two Selangor plots for RM237.15m to cut debt

Puncak Niaga Holdings Bhd will sell two oil-palm plots in Bandar Puncak Alam for RM237.15 million to Alpha Galaxy Sdn Bhd to reduce bank borrowings.

Source: EdgeProp Malaysia · August 18, 2026 at 10:30 PM · AI-assisted report

Puncak Niaga sells two Selangor plots for RM237.15m to cut debt

Image: edgeprop.my

KUALA LUMPUR, 19 AUGUST 2026 —

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Puncak Niaga Holdings Bhd will sell two oil-palm plots in Bandar Puncak Alam for RM237.15 million to Alpha Galaxy Sdn Bhd to reduce bank borrowings.

Market Impact

The 458-hectare portfolio—Lot 7095 (229,717 sq m) and Lot 7094 (229,290 sq m)—has been held as investment property since 2015. After RM2 million in disposal costs and RM18.93 million in real-property gains tax, Puncak Niaga expects net proceeds of about RM216.22 million.

As at March 31 2024, the group’s bank borrowings totalled RM1.05 billion. The buyer will pay over 48 months in equal instalments, with no link to the mixed-use development Alpha Galaxy plans.

Puncak Niaga said joint ventures or in-house development would tie up scarce capital and worsen its balance sheet, so it will not pursue either.

The disposal frees value from underused land and pares debt without waiting for project milestones.