(Reference is made to the announcements dated 1 July 2025, 4 July 2025, 23 January 2026 and 27 February 2026 in relation to the entry into a conditional Joint Venture Agreement ("JVA") and a conditional Share Subscription and Shareholders' Agreement ("SSHA") by Kerjaya Prospek Ventures Sdn. Bhd. ("KPV") with Aspen Vision Tanjung Sdn. Bhd. ("AVT") ("Announcements"). Unless otherwise defined in this announcement, all terms used herein shall have the same meaning as those defined in the Announcements.)
On 1 July 2025, the Board of Directors ("Board") of Kerjaya Prospek Group Berhad (the "KPGB" or "Company" and together with its subsidiaries, "KPGB Group") announce that Kerjaya Prospek Ventures Sdn. Bhd. ("KPV") and Tanjung Bungah Development Sdn. Bhd. ("TBD"), both wholly-owned subsidiaries of KP Equity Ventures Sdn. Bhd., which in turn is a wholly-owned subsidiary of KPGB has on 1 July 2025, entered into a conditional Joint Venture Agreement ("JVA") and Subscription and Shareholders Agreement ("SSHA") with Aspen Vision Tanjung Sdn. Bhd. ("AVT"), a sub-subsidiary of Aspen (Group) Holdings Limited ("Aspen") for the purpose of jointly developing two (2) parcels of freehold land located in Tanjung Bungah, specifically under Lot No. 2601 and Lot No. 3603 (registered under Geran No. 2396 and Geran No. 13575, respectively), both situated in Bandar Tanjong Bungah, Daerah Timor Laut, Pulau Pinang ("Land") via a special purpose vehicle, namely, TBD ("SPV"), wherein KPV and AVT will hold 60% and 40% of shares in the SPV, respectively ("Development Project") (hereinafter referred to as "Transaction 1");
The highest percentage ratio applicable to Transaction 1, computed based on the total Land Price of RM117,000,000 and expenditures incurred for the Development Project amounting to (totalling RM124,029,907) is 10.91%, derived by comparing the total value of the consideration compared with the net assets of KPGB and the value of assets compared to net assets of KPGB based on the audited financial statements of KPGB for the financial year ended 31 December 2024.
The Board is pleased to announce that KPV has on 19 June 2026 entered into a Shares Sale Agreement ("SSA") with Aspen Vision Tanjung Sdn. Bhd. ("AVT") for the acquisition of 80 ordinary shares in Tanjung Bungah Development Sdn. Bhd. ("TBD"), representing the 40% equity interest in TBD for a total cash purchase consideration of RM80.00 ("Purchase Consideration") ("Acquisition" or "Transaction 2").
As all the applicable percentage ratios for the Transaction 2 are below 5%, no announcement is required under the Main Market Listing Requirements of Bursa Malaysia Securities Berhad. Nevertheless, the Company is making this announcement on a voluntary basis.
Details of the announcement are set out in the file attached.
This announcement is dated 19 June 2026.
