Selangor Dredging gets interest-free one-year extension for RM63m Subang land deal
Selangor Dredging Bhd (SDB) secured an interest-free one-year extension to complete its RM63 million purchase of a 1.214ha freehold commercial site in Subang, Selangor.
Source: EdgeProp Malaysia · August 13, 2026 at 7:40 AM · AI-assisted report
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KUALA LUMPUR, 13 AUGUST 2026 —
Selangor Dredging Bhd (SDB) secured an interest-free one-year extension to complete its RM63 million purchase of a 1.214ha freehold commercial site in Subang, Selangor.
Market Impact
According to a Bursa Malaysia filing on Aug 12, the completion date shifted from Aug 13 2026 to Aug 12 2027. The original sale and purchase agreement (SPA) allowed extensions only at 8% annual interest on the outstanding final tranche. The vendor Hectare Square Sdn Bhd agreed to waive interest for the additional 12 months, leaving all other terms unchanged.
SDB Subang Development Sdn Bhd, a wholly owned subsidiary, signed the SPA on Jan 13 to acquire the site together with its building. The RM63 million price reflected a willing-buyer willing-seller arrangement after a Jan 13 valuation by PA International Property Consultants (KL) Sdn Bhd at RM59 million.
Payment splits into RM12.6 million via a contra arrangement using unsold units from SDB group projects, and RM42.2 million in cash for the final tranche.
The site at Lot 541, Jalan Subang 2, Taman Industri Penaga, 47620 Petaling Jaya, sits within Geran Mukim 110, Lot 541, Tempat Sungai Penaga, Mukim Damansara, Petaling district. SDB plans high-rise serviced apartments with an estimated gross development value of RM507 million once the detailed plan is finalised.
The property offers direct access via Jalan Subang 2 and lies within a transit-oriented development zone. It is also within reasonable proximity to the USJ 7 LRT station.
SDB said in January the land forms part of its land bank expansion strategy. No further financial or operational impacts were disclosed in the filing.
Related: Bursa Malaysia