Salcon Berhad has announced that its wholly-owned subsidiary, Salcon Development, alongside co-vendor Dato’ Ding Pei Chai, executed a Supplemental Agreement on August 14, 2026, to vary the terms of the Sale and Purchase Agreement for the disposal of Prestasi Kemas Sdn Bhd to Kota Platinum Sdn Bhd.
The variation comes as KPSB requested a further six-month extension—stretching from August 16, 2026, to February 15, 2027—to settle the balance payment and associated sums following the expiry of the previous extended period on August 15, 2026. The vendors agreed to the extension subject to revised pricing, security, and settlement terms.
Key Details of the Supplemental Agreement will now see PKSB will capitalise further advances and accrued interest as of August 15, 2026, by issuing 97,645 new ordinary shares to SDSB, bringing the total number of new PKSB shares to 2,008,810.
Arising solely from the capitalisation of the advances and interest, the agreed purchase consideration has been adjusted upwards from RM42.0 million to RM43,220,554.
KPSB is required to pay RM22,520,126 upon execution of the Supplemental Agreement. This comprises RM1,499,572 in accrued interest on the balance sum up to August 15, 2026, and RM21,020,554 to be set off against the overall balance sum.
The remaining balance of RM18.0 million is payable on or before February 15, 2027. This balance will accrue interest at 8% per annum calculated on a daily basis starting August 16, 2026. Any further advances made during this period will similarly carry an 8% per annum interest rate from their respective due dates until full settlement.
To back the payment obligations, Asian Pac Holdings Berhad (“Asian Pac”) will deliver a Guarantee and Indemnity in favor of the vendors to secure all amounts due under the SPA and Supplemental Agreement.
