WCT Holdings Bhd is acquiring the remaining 30% stake in Jelas Puri Sdn Bhd (JPSB) from the Employees Provident Fund (EPF) for RM140 million, giving the property and construction group full ownership of the company behind the Paradigm Petaling Jaya integrated development.
The construction group said its wholly owned subsidiary, WCT Land Sdn Bhd, entered into a share sale agreement with EPF on July 31 to purchase 93 million ordinary shares, representing the remaining 30% equity interest in JPSB.
The acquisition will be funded entirely through WCT’s internally generated funds.
Following the completion of the transaction, JPSB will become an indirect wholly owned subsidiary of WCT, increasing the group’s ownership from 70% to 100%.
JPSB is the developer of the Paradigm Petaling Jaya integrated commercial development in Kelana Jaya, which comprises The Ascent Office Tower, Le Méridien Petaling Jaya Hotel, Paradigm Mall Petaling Jaya, The Azure Residences and Sapphire Paradigm.
The company had previously divested Paradigm Mall Petaling Jaya to Paradigm Real Estate Investment Trust (Paradigm REIT) in June 2025 as part of its asset monetisation exercise.
WCT said the acquisition would provide the group with greater flexibility in managing JPSB and executing future corporate exercises, including restructuring or rationalisation initiatives, without requiring the consent of a joint venture partner.
JPSB has an issued share capital of RM310 million, comprising 310 million ordinary shares. Upon completion of the transaction, WCT will own the entire equity interest in the company.
The acquisition is not expected to materially affect WCT’s share capital or shareholding structure, as the purchase consideration will be satisfied in cash using internal funds. It is, however, expected to enhance the group’s long-term strategic flexibility and enable more efficient management of its property investment portfolio.
