Hextar Global Bhd is diversifying into property development, construction, property investment and management as part of a broader strategy to expand its earnings base beyond its existing specialty chemicals, agriculture and fruits businesses.
The group, through its subsidiary Hextar Landmark Sdn Bhd, has entered into a joint venture with Kotaputeri Development Sdn Bhd (KDSB) to undertake a mixed-use development on approximately 240.39 acres of land in Siera Alam, Shah Alam, Selangor.
The proposed diversification and joint venture it said are expected to create a new revenue stream for Hextar Global and potentially reduce the group’s reliance on its existing businesses over the longer term.
Under the proposed transaction, Hextar Global will seek shareholders’ approval to diversify into property development, construction, property investment and property management, as the new segment could potentially contribute 25% or more of the group’s net profit or result in a diversion of 25% or more of its net assets in the future.
The joint venture will be undertaken through Hextar Siera Sdn Bhd, which is currently a wholly owned subsidiary of Hextar Landmark.
Hextar Landmark is 70%-owned by Halex Realty Sdn Bhd, a wholly owned subsidiary of Hextar Global, while the remaining 30% is held by Cekap Sekata Sdn Bhd.
As a result, Hextar Global has an indirect effective 70% equity interest in Hextar Siera through Halex Realty and Hextar Landmark.
Under the joint venture and shareholders’ agreement dated Aug 14, 2026, Hextar Landmark and KDSB will collaborate to develop the 240.39-acre Development Lands located in Section U10, Shah Alam.
The land is situated along an unnamed metalled road connecting Persiaran Pulau Lumut and Persiaran Setia Makmur, approximately 34.8km west of Kuala Lumpur city centre and 18.5km north-west of Shah Alam city centre.
The Development Lands are being acquired from PKNS for RM270 million.
Hextar Siera is responsible for securing the funding required to pay the land purchase price under the sale and purchase agreement signed between PKNS, as vendor, and Hextar Siera, as purchaser.
The board said the move is aimed at broadening Hextar Global’s revenue and earnings base while providing an additional avenue for long-term growth and shareholder value creation.
The group has identified Datuk Edmund Kong Woon Jun as the key management personnel to spearhead and oversee its property development, property investment and management activities.
