Paragon Globe gets Bursa extension for RM127m Sedenak land circular

Paragon Globe Bhd has received Bursa Malaysia's approval to extend the deadline for submitting its draft circular on the proposed RM127.28 million acquisition of beneficial interests in freehold land in Sedenak, Johor. The new deadline is March 10, 2027, with no changes disclosed to the deal's terms

PETALING JAYA (Sept 29): Paragon Globe Bhd has obtained Bursa Malaysia Securities Bhd’s approval to extend the deadline to March 10, 2027, for submitting the draft circular on its proposed RM127.28 million acquisition of beneficial interests in freehold land in Sedenak, Kulai, Johor.

Bursa Securities approved the extension in a letter dated Monday (Sept 28), the property developer said in a filing. The filing did not disclose any revision to the proposed acquisition’s terms.

Paragon Globe’s wholly owned subsidiary, PGB Gardens Sdn Bhd, entered into 29 conditional sale and purchase agreements with 35 beneficial owners on July 14 to acquire an aggregate undivided 75.3% share of the beneficial interests in the approximately 103.9ha land.

PGB Gardens separately completed the acquisition of an 8.8% beneficial interest in the same land for RM13.86 million on July 8. Upon completion of the proposed acquisition, it would hold an aggregate 84.1% beneficial interest in the site.