Advancecon Holdings Berhad has announced that the joint development agreement (JDA) for the proposed Silver Valley Technology Park Industrial Hub in Perak has become unconditional following the fulfilment of all conditions precedent.
The construction and property group said its indirect wholly owned subsidiary, Advancecon Development Sdn Bhd (ADSB), received confirmation from Perak Corporation Berhad (Perak Corp) on July 24, 2026, that the financing-related condition under the JDA had been waived.
The waived condition required ADSB to secure financing from financial institutions for the development.
With the waiver, the financing requirement is deemed fulfilled, resulting in all conditions precedent under the agreement being satisfied.
Accordingly, Advancecon said the joint development agreement became unconditional on May 29, 2026, marking a key milestone in advancing the project.
The company was referring to the JDA first announced on Nov 27, 2023, with a subsequent update on Jan 8, 2024, for the joint development of the Silver Valley Technology Park Industrial Hub together with Perak Corp.
The industrial hub is expected to support the state’s ambitions to attract high-value manufacturing and technology-related investments, with the development forming part of Perak’s broader industrialisation agenda.
Advancecon did not disclose any changes to the commercial terms of the agreement following the waiver.
The unconditional status allows both parties to proceed with the implementation of the joint development in accordance with the terms of the agreement.
