COMPANY ANNOUNCEMENTS

Date : 22 June 2026

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS KERJAYA PROSPEK PROPERTY BERHAD ("KPPROP" OR THE "COMPANY") (1) ACQUISITION OF THE REMAINING 30% EQUITY INTEREST IN KERJAYA PROPERTY ASPEN SDN. BHD. ("KPA") BY KERJAYA PROPERTY JV SDN. BHD. ("KPJV"), A WHOLLY-OWNED SUBSIDIARY OF KPPROP, FROM ASPEN VISION CITY SDN. BHD. ("AVC"); (2) REDEMPTION OF REDEEMABLE PREFERENCE SHARES HELD BY AVC IN KPA; AND (3) TERMINATION OF THE JOINT VENTURE AGREEMENT AND SHAREHOLDERS' AGREEMENT

KERJAYA PROSPEK PROPERTY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description 
KERJAYA PROSPEK PROPERTY BERHAD ("KPPROP" OR THE "COMPANY")

(1)	ACQUISITION OF THE REMAINING 30% EQUITY INTEREST IN KERJAYA PROPERTY ASPEN SDN. BHD. ("KPA") BY KERJAYA PROPERTY JV SDN. BHD. ("KPJV"), A WHOLLY-OWNED SUBSIDIARY OF KPPROP, FROM ASPEN VISION CITY SDN. BHD. ("AVC");

(2)	REDEMPTION OF REDEEMABLE PREFERENCE SHARES HELD BY AVC IN KPA; AND

(3)	TERMINATION OF THE JOINT VENTURE AGREEMENT AND SHAREHOLDERS' AGREEMENT

(Reference is made to the announcements dated 9 May 2024, 23 September 2024, 6 December 2024, 17 February 2025 and 24 April 2025 in relation to the entry into Joint Venture Agreement ("JVA") and Shareholders' Agreement ("SA") by Kerjaya Property JV Sdn. Bhd. ("KPJV"), a wholly-owned subsidiary of Kerjaya Prospek Property Berhad ("KPPROP" or the "Company") with Aspen Vision City Sdn. Bhd. ("AVC") to jointly develop a piece of land in Batu Kawan, Pulau Pinang via a special purpose vehicle ("SPV") ("Announcements"). Unless otherwise defined in this announcement, all terms used herein shall have the same meaning as those defined in the Announcements.)

 

The Board of Directors of the Company wishes to announce that its wholly-owned subsidiary, KPJV, has on 22 June 2026 entered into a Shares Sale Agreement ("SSA") with AVC, a person connected with the major shareholders of KPPROP, for the acquisition of 750,000 ordinary shares in KPA, representing the 30% equity interest in KPA for a total cash purchase consideration of RM750,000 ("Acquisition").

 

KPA is currently held by KPJV and AVC, which hold 70% and 30% equity interests in KPA, respectively.

 

AVC is an 80%-owned subsidiary of Aspen Vision Land Sdn. Bhd. ("AVL"), a company currently held by Aspen Vision Development Sdn. Bhd. ("AVD") and Kerjaya Prospek Ventures Sdn. Bhd. ("KPV"), which hold 51% and 49% equity interests in AVL, respectively.

 

AVD is an indirect wholly-owned subsidiary of Aspen (Group) Holdings Limited, a company listed on the Mainboard of Singapore Exchange Securities Trading Limited whilst KPV is an indirect wholly-owned subsidiary of Kerjaya Prospek Group Berhad ("KPGB"), a company listed on the Main Market of Bursa Malaysia Securities Berhad.

 

Dato' Seri Tee Eng Ho ("DSTEH"), Dato' Tee Eng Seng ("DTES") and Datin Seri Toh Siew Chuon ("DSTSC") are major shareholders of KPPROP and KPGB.

 

Details of the announcement are set out in the file attached.

 

This announcement is dated 22 June 2026.


Please refer attachment below.

Attachments

Acquisition of Remaining Equity Interest in KPA.pdf
153.8 kB


Announcement Info

Company Name KERJAYA PROSPEK PROPERTY BERHAD
Stock Name KPPROP
Date Announced 22 Jun 2026
Category General Announcement for PLC
Reference Number GA1-22062026-00043


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