Oriental Holdings Bhd has mutually agreed to extend the conditional period for its proposed RM411.00 million property and hospitality acquisition package in Penang and Langkawi for another two months.
CIMB Investment Bank Berhad, acting on behalf of OHB, announced that OHB, Boon Siew Sdn Bhd (BSSB), and Northam Georgetown Sdn Bhd (NGSB) agreed on August 7, 2026, to extend the deadline for fulfilling conditions precedent under their Share Subscription Agreement.
The deadline for completing the conditional period regarding the NGSB share acquisition has been extended from August 7, 2026, to October 15, 2026.
The transaction framework, detailed in OHB’s shareholder circular dated January 29, 2026, comprises three related party acquisitions for a total cash consideration of RM411.00 million.
The multi-property consolidation is aimed at expanding and diversifying OHB’s hospitality portfolio. By acquiring full ownership of these established hospitality and commercial assets, the group seeks to strengthen its recurring income base across prominent commercial and tourist hubs in northern Malaysia.
