Puncak Niaga Holdings Bhd proposes to sell two adjoining oil-palm planted land parcels in Bandar Puncak Alam, Selangor (Lots 7095 and 7094) to Alpha Galaxy Sdn Bhd for RM237.15 million. After estimated disposal costs (RM2.0m) and real property gains tax (RM18.93m), the net proceeds are expected to be about RM216.22 million, which will be used to repay bank loans. The sale consideration will be paid over 48 months and is not tied to the buyer’s development progress. Puncak Niaga will not develop the land itself nor enter a joint venture with Alpha Galaxy, citing capital constraints. As of March 31, 2026, the group’s bank borrowings were RM1.05 billion. The company’s shares were steady at 17 sen, with a market cap of RM76.4 million.
Puncak Niaga to sell Two Plot of Land
