PUCHONG: NCT Alliance Bhd successfully secured shareholders’ approval at its Extraordinary General Meeting (EGM) for the acquisition of NCT World Sdn Bhd, marking a key milestone in the Group’s expansion strategy.
Held at Menara NCT, the EGM hosted NCT Alliance executive chairman and group managing director Datuk Seri Yap Ngan Choy, group executive director Joe Yap Fook Choy, independent non-executive director Yap Chui Fan, non-independent non-executive director Sae-Yap Atthakovit, independent non-executive director Allen Yap Kuan Kee, chief financial officer Eng Kim Haw and company secretary Loo Hui Yan.
All four resolutions were passed, showcasing strong support for NCT Alliance’s long-term growth objectives. A significant resolution included the approval for the acquisition of a 100% equity interest in NCT World Sdn Bhd for a total consideration of up to RM490.3mil, to be satisfied through the issuance of new ordinary shares and redeemable convertible preference shares at RM0.48 per share.
This acquisition will enhance NCT Alliance’s development pipeline with two major industrial projects: NCT Smart Industrial Park (NSIP) and NCT InnoSphere (NIS). Together, they hold a gross development value of approximately RM4.8bil and provide an additional landbank of around 855 acres for future expansion.
“We are deeply encouraged by the strong support from our shareholders, which gives us a clear mandate to move forward. We are focused on disciplined execution as we integrate NCT World into the Group and accelerate our development pipeline. This milestone sets us on the path to becoming a more diversified and resilient developer while reinforcing our value proposition and supporting sustainable, long-term value creation for all stakeholders. We remain committed to building a future-ready NCT Alliance that makes a meaningful impact across our markets and communities,” said Ngan Choy.
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