The Securities Commission Malaysia (SC) has granted a group of KSL Holdings Bhd shareholders an exemption from having to undertake a mandatory offer for the remaining shares in the property developer, following an internal shareholding restructuring linked to the establishment of a single family office.
KSL said the SC, through a letter dated Sept 3, 2026, approved the exemption application by Success Lineage Sdn Bhd (SLSB) and eight individuals — Khoo Cheng Hai @ Ku Cheng Hai, Ku Hwa Seng, Ku Tien Sek, Ku Wa Chong, Khoo Keng Ghiap, Khoo Lee Feng, Ku Ek Mei and Ku Keng Yaw.
The application relates to the transfer of the eight individuals’ shareholdings in Premiere Sector Sdn Bhd, Noble Heritage Sdn Bhd and Gorgeous Horizon Sdn Bhd to SLSB as part of the establishment of a single family office.
Following completion of the restructuring, SLSB has a deemed interest in the KSL shares held by the three companies.
Importantly, KSL said the exercise does not involve any transfer of KSL shares held directly by Premiere Sector, Noble Heritage and Gorgeous Horizon.
Those KSL shares will remain registered under the respective names of the three companies.
The restructuring therefore changes the ownership structure above the companies holding the KSL shares rather than transferring the listed company’s shares themselves.
Without the exemption, changes in control or deemed interests arising from such a restructuring could potentially trigger obligations under Malaysia’s takeover rules to make a mandatory offer for the remaining voting shares.
KSL said the exemption is subject to any terms and conditions stipulated by the SC in its Sept 3 approval letter.
