BCB signs RM110.91 million deal for Batu Pahat golf course land
The group estimates potential projects at RM1.1 billion in gross development value, but says planning is preliminary and regulatory approvals are needed.
BCB Bhd has agreed to pay RM110.91 million for four neighbouring freehold parcels used as golf course land in Batu Pahat, Johor. The seller, Indah Corp Bhd, operates Bukit Banang Golf & Country Club and is linked to Berjaya Property Bhd, according to BCB’s bourse filings.
The land spans about 64.4 hectares in Mukim Simpang Kanan. BCB said it would consider development opportunities after completing the purchases, estimating a gross development value of RM1.1 billion across the parcels. It said costs, schedules and anticipated profit margins could not yet be determined because planning was preliminary and development required regulatory clearance.
Under separate agreements signed on Nov 13, Amber Vista Property Development Sdn Bhd will purchase three parcels totalling 433,977 sq m for RM74.74 million. Another BCB unit, Banang Central Development Sdn Bhd, will acquire the remaining 210,000 sq m parcel for RM36.17 million.
The agreed price for both transactions is RM16 per sq ft. Their combined consideration is below the RM112 million valuation provided on Nov 12 by CBRE WTW Valuation & Advisory Sdn Bhd.
The two purchases depend on one another and must close together. BCB remains obliged to complete them even if approvals for land conversion, planning or development are delayed or refused. Before possession is transferred, Indah Corp must end golf operations and deliver vacant land.
BCB said it would use internal funds and bank financing, with the proportions undecided. The filings reported audited cash and cash equivalents at RM29.9 million on June 30, 2026; its latest quarterly results put total borrowings at RM305.47 million.
Completion is expected during the first half of 2027, without needing shareholder approval. Indah Corp is wholly owned by Berjaya Vacation Club Bhd, itself wholly owned by Berjaya Property Bhd, a Berjaya Corp Bhd subsidiary.
