BCB buys 159-acre Batu Pahat golf course land for RM110.91 mil
BCB Bhd has signed agreements to acquire 159.1 acres of freehold land currently operated as a golf course in Batu Pahat, Johor, for RM110.91 million. The parcels have a combined preliminary gross development value of RM1.1 billion.
PETALING JAYA (Nov 13): BCB Bhd has signed agreements to acquire four adjoining parcels of freehold land currently operated as a golf course in Batu Pahat, Johor, for RM110.91 million to expand its land bank. The group has put the combined preliminary gross development value (GDV) of proposed developments on the land at RM1.1 billion, subject to further planning and assessment.
In separate Bursa Malaysia filings on Friday (Nov 13), BCB said its wholly owned subsidiaries Amber Vista Property Development Sdn Bhd and Banang Central Development Sdn Bhd had entered into sale and purchase agreements with Indah Corporation Bhd. The parcels in Mukim Simpang Kanan cover approximately 643,977 sq m (6.93 million sq ft), or 159.1 acres. Indah Corporation operates Bukit Banang Golf & Country Club and is wholly owned by Berjaya Vacation Club Bhd.
Amber Vista will acquire three parcels totalling 433,977 sq m (4.67 million sq ft) for RM74.74 million, while Banang Central will buy a 210,000 sq m (2.26 million sq ft) parcel for RM36.17 million. The Amber Vista parcels comprise Lots 20385, 20387 and 20386, while Banang Central will acquire Lot 29416. Both purchases are priced at RM16 per sq ft. The combined consideration is slightly below the parcels’ aggregate market valuation of RM112 million, assessed by CBRE WTW Valuation & Advisory Sdn Bhd on Nov 12.
BCB said the acquisitions would support its long-term strategy to expand its landbank and provide a pipeline of future property development projects, while strengthening its presence in Johor. The preliminary GDV comprises RM600 million for the Amber Vista parcels and RM500 million for the Banang Central land. BCB intends to explore development opportunities after completing the acquisitions, subject to approvals from the relevant authorities.
With planning still at an early stage, the group said it was premature to determine development costs, timelines or expected profit margins. The two purchases are conditional upon each other and must be completed simultaneously. The agreements provide termination and refund rights if the linked acquisitions cannot be completed for reasons other than purchaser default.
However, Amber Vista cannot terminate its agreement solely because of delays or failure to obtain land conversion, planning, development or related regulatory approvals. Banang Central’s agreement also bars termination on these grounds and requires it to complete the purchase. Indah Corporation must, at its own cost, procure the cessation of golf course operations and ensure the land is vacated by the time vacant possession is delivered.
BCB will fund the acquisitions through internally generated funds and bank financing, with the funding mix to be determined later. The group’s audited cash and cash equivalents stood at RM29.9 million as at June 30, 2026. The acquisitions do not require shareholder approval and are expected to be completed in the first half of 2027, barring unforeseen circumstances and subject to the agreements’ terms.
