On behalf of the Board of Directors of PGB ("Board"), UOB Kay Hian (M) Sdn Bhd wishes to announce that PLSB, a wholly-owned subsidiary of PGB, had, on 23 June 2026, entered into a conditional sale and purchase agreement with DDCM for the proposed disposal of 2 parcels of freehold land held under:-
H.S.(D) 646688, PTD 5868 (previously known as H.S.(D) 602898, PTD 5868), located in the Mukim of Tanjung Kupang, District of Johor Bahru, State of Johor, measuring approximately 22.5736 hectares (equivalent to approximately 2,429,802.08 square feet ("sq ft")) ("Land 1"); and
- H.S.(D) 646687, PTD 5401 (previously known as H.S.(D) 602455, PTD 5401), located in the Mukim of Tanjung Kupang, District of Johor Bahru, State of Johor, measuring approximately 3.8446 hectares (equivalent to approximately 413,829.30 sq ft) ("Land 2"),
(collectively referred to as the "Disposal Lands"), for a total cash consideration of RM398,107,091.20 ("Disposal Consideration").
The Proposed Disposal forms part of PGB and its subsidiaries' (collectively referred to as "PGB Group" or "Group") ongoing strategy to optimise its landbank portfolio through the selective monetisation of certain land assets. The Board is of the view that the Proposed Disposal provides the Group with an opportunity to realise the value of the Disposal Lands for cash at the Disposal Consideration, while strengthening the Group's financial flexibility to support its funding requirements and facilitate the execution of its strategic priorities moving forward.
Further details of the Proposed Disposal are set out in the attachment below.
This announcement is dated 23 June 2026.