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
Single-source
KUALA LUMPUR, 19 AUGUST 2026 —
KUALA LUMPUR (Aug 18): Puncak Niaga Holdings Bhd will sell two oil-palm plots in Bandar Puncak Alam, Selangor, for RM237.15 million to Alpha Galaxy Sdn Bhd to reduce its bank borrowings.
Market Impact
The disposal covers Lot 7095 (229,717 sq m) and Lot 7094 (229,290 sq m), both planted with oil palm trees, according to an exchange filing.
The deal will generate RM216.22 million in net proceeds after estimated disposal costs of RM2 million and real property gains tax of RM18.93 million. Puncak Niaga’s bank borrowings stood at RM1.05 billion as of March 31, 2026. The consideration will be paid over 48 months, with no development progress conditions attached.
Puncak Niaga said it does not plan to develop the land itself or enter a joint venture with Alpha Galaxy, citing the need to avoid further financial strain. The proceeds will be used to repay bank loans, reducing leverage.
The transaction remains subject to regulatory approvals.
Analysts expect the disposal to improve Puncak Niaga’s liquidity position, though its long-term impact depends on execution and market conditions.