On 11 November 2024, the Board of Directors ("Board") of Kerjaya Prospek Group Berhad (the "KPGB" or "Company" and together with its subsidiaries, "KPGB Group") announce that:-
Futuprop Sdn. Bhd. (Registration No. 201301030036 (1059866-M)) ("FSB"), a wholly-owned subsidiary of the Company, has on 11 November 2024, entered into a Joint Venture Cum Shareholders' Agreement ("JVSHA") with Aspen Vision Development Sdn. Bhd. (Registration No. 201301001760 (1031597-H)) ("AVD") in relation to a joint venture between FSB and AVD to undertake the development of the lands comprising part of land held under HSD 28162 known as Lot 286, lands held under GRN 157615 and GRN 157616 known as Lot 65 and Lot 67, all within town of Prai, Seberang Perai Tengah, Pulau Pinang respectively and measuring a total land area of approximately 36.025 acres ("Said Land") via Rivanis Ventures Sdn. Bhd. (Registration No. 202401044541 (1590387-H)), a special purpose vehicle incorporated under the laws of Malaysia for the purpose of the aforesaid joint venture ("RVSB").
- RVSB has on 11 November 2024 entered into a Heads of Agreement ("HOA") with the owner of the Said Land, Perbadanan Aset Keretapi (Railway Assets Corporation) ("RAC"), in relation to the development of the Said Land by RVSB.
On 16 January 2025,10 March 2025, 25 March 2025, 25 April 2025, 29 May 2025, 29 August 2025, 3 March 2026, 30 April 2026 and 26 May 2026, the Company announced updates in relation to the extension of the agreement period under the HOA.
Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as ascribed to them in the aforesaid mentioned announcements (collectively referred to as "Announcements").
The Board is pleased to announce that RVSB has on 11 June 2026 entered into the Development Agreement ("Agreement") with RAC for the sale and development of the Said Lands comprising part of land held under HSD 28162 known as Lot 286, lands held under GRN 157615 and GRN 157616 known as Lot 65 and Lot 67, all within town of Prai, Seberang Perai Tengah, Pulau Pinang respectively and measuring a total land area of approximately 34.839 acres ("Development Land") (hereinafter referred to as "Proposed Acquisition and Development " or "Proposal").
Details of the announcement are set out in the file attached.
This announcement is dated 11 June 2026.