KUALA LUMPUR (July 16): GuocoLand (Malaysia) Bhd (KL:GUOCO) said trading in its shares will be suspended from July 30 to facilitate the selective capital reduction and capital repayment exercise for the company's privatisation by its controlling shareholder, GLL (Malaysia) Pte Ltd (GLLM).
The exercise, approved by shareholders on May 29, will pave the way for the property developer's delisting from Bursa Malaysia's Main Market. GuocoLand Malaysia is the property arm of the Tan Sri Quek Leng Chan-controlled Hong Leong Group.
“Trading of GuocoLand Malaysia shares will continue to be suspended until the delisting from the official list of Bursa Securities following the completion of the privatisation,” the company said in a bourse filing on Thursday.
GLLM, a wholly-owned unit of Singapore-listed GuocoLand Ltd, first announced the privatisation proposal on Feb 3, offering RM1.10 per share via the capital reduction exercise. Based on the proposal, entitled shareholders holding 244.95 million shares, or 34.97% of GuocoLand Malaysia, will receive a total capital repayment of RM269.45 million.
Quek, who directly owns a 2.78% stake or 19.51 million shares in GuocoLand Malaysia, stands to receive RM21.46 million.
The privatisation will be funded using GuocoLand Malaysia's excess cash, with any funding shortfall to be met through advances or equity injections from GLLM or its parent company. Based on estimates, GuocoLand Ltd may need to inject about RM72.25 million to complete the exercise.
On June 20, GuocoLand Malaysia sold its 20% stake in GLM REIT Management Sdn Bhd, the manager of Tower REIT (KL:TWRREIT), to HL Management Co Sdn Bhd, a wholly-owned unit of Hong Leong Company (Malaysia) Bhd.
Following the disposal, GuocoLand Malaysia’s stake in GLM REIT Management was reduced to 80%.
GuocoLand posted a net loss of RM6.21 million for its third quarter ended March 31, 2026 (3QFY2026) — its first quarterly loss in four years — compared with a net profit of RM1.83 million a year earlier, mainly due to a RM7.2 million inventory write-down for its PJ City project.
Quarterly revenue, however, rose 57.17% year-on-year to RM151.77 million from RM96.57 million, driven by continued strong sales and progressive billings from the Emerald 9 project, as well as higher unit sales at Oval KL and DC Residences.
GuocoLand Malaysia’s share price closed unchanged at RM1.09 on Thursday, giving the company a market capitalisation of RM763.5 million.