Puncak Niaga Holdings Bhd has proposed to dispose of two leasehold land parcels in Ijok, Kuala Selangor, for a total cash consideration of RM237.15 million.
The company said it and its wholly owned subsidiary, Puncak Niaga Management Services Sdn Bhd (PNMSSB), had on Aug 17, 2026 entered into two conditional sale and purchase agreements with Alpha Galaxy Sdn Bhd (AGSB) for the proposed disposals.
Under the first agreement, Puncak will dispose of Lot 7095, held under Pajakan Negeri 77572, for RM118.69 million.
Meanwhile, PNMSSB will dispose of Lot 7094, held under Pajakan Negeri 77571, for RM118.47 million.
The combined consideration of RM237.15 million is based on a disposal price of RM48 per square foot.
Puncak Niaga said the proposed disposals do not constitute related-party transactions.
The two parcels are located in Mukim Ijok, Daerah Kuala Selangor, Selangor, and are largely planted with oil palm trees.
An exception is the south-western portion of Lot 7094, where a single-storey detached building has been constructed.
The building, which occupies approximately 2,787 sq m of land, has a built-up area of about 501.3 sq m and is currently leased to McDonald’s Puncak Alam Drive-Thru.
The building comprises a reinforced concrete framework with plastered brick walls and a reinforced concrete flat roof.
The proposed transactions are subject to the terms and conditions set out in the respective conditional sale and purchase agreements.
Puncak Niaga said further details on the proposed disposals would be provided in the relevant sections of its announcement.
