07/02/2026

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SATURDAY | FEB 7, 2026

Berjaya Land launches sales gallery for Jesselton Courtyard

PETALING JAYA: Farm Price Holdings Bhd, a Johor-based wholesaler and distributor of fresh vegetables, food and beverage products and groceries, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia. Farm Price has met Farm Price plans transfer to Bursa’s Main Market as it meets criteria

and growing interest from overseas buyers. “A lot of thought has been put into multi generational living,” Tan said, highlighting the inclusion of a separate bedroom with an attached bathroom on the lower floor so elderly residents do not need to climb to the upper levels. Jesselton Courtyard is a freehold, low-rise residential enclave spanning 11.9 acres and comprising 239 units, including Courtyard Homes and Courtyard Villas. Courtyard Homes are four storeys high and priced from RM6.476 million for units starting at 6,649 sq ft, while Courtyard Villas – landed condominiums of 1½ or two storeys – are priced from RM2.87 million for units starting at 2,734 sq ft. “Each unit offers parking for four to seven cars at the doorstep,,” Syed Ali said. Berjaya Land said construction of the development is progressing well, with completion targeted for early 2028. In conjunction with the Chinese New Year period, the sales gallery will be open from Feb 18, while a public roadshow will be held at Gurney Plaza from Feb 14 to March 1.

o Premium residential development in prestigious neighbourhood in Penang receives encouraging response

Ű BY T.C. KHOR news@thesundaily.com

Syed Ali said Penang continues to be supported by strong infrastructure, sustained investment activity and demand from both local and international buyers. He added that the development provides residents with safety and security through features such as 24-hour CCTV surveillance within a gated and guarded community. “This new premium residential develop ment redefines living with an exclusive and luxurious lifestyle set amidst the affluent surroundings of Penang Island,” he said. Property sales and marketing director Tan Tee Ming said the sales gallery plays a crucial role in helping buyers better appreciate the scale, design and lifestyle concept of Jesselton Courtyard. He said the project has received en couraging response since its introduction, supported by targeted marketing initiatives

the requirements for the transfer as set out in the Securities Com mission Malaysia Equity Guidelines. Managing director Dr Lawrence Tiong Lee Chian ( pic ) said the transfer repre sents more than a market shift – it re flects the group’s pro gress, operating disci pline and readi-ness for the next phase of growth.

GEORGE TOWN: Berjaya Land Bhd officially launched the Jesselton Courtyard Sales Gallery in Penang for its premium low-density residential development in one of the island’s most prestigious neighbourhoods. The sales gallery, located at Persiaran Jesselton Selatan, offers visitors an immersive introduction to the Jesselton Courtyard development, including a completed Type B show unit available for viewing by appointment. Group CEO Syed Ali Shahul Hameed said the opening reflects the group’s confidence in Penang’s long-term economic fundamentals and resilience as a property market. “We have sold about 50% of the units already,” he told reporters during a press conference at the site.

“We believe the transfer will enhance Farm Price’s credibility and standing, broaden recognition among a wider pool of investors and reinforce confidence in our long term prospects. It is also expected to foster continued trust among our customers, suppliers, business associates and employees as the group conti nues to scale its operations,” he said in a statement. In terms of earnings requirements, the group recorded a net profit of RM23.8 million for the past three financial years ending Dec 31 2022 to 2024, with a net profit of RM10.3 million for FY24. This surpasses the minimum requirement of RM20 million in aggregate net profit, as well as a net profit of RM6 million for the latest financial year. On financial position strength, Farm Price recorded current assets and current liabilities of RM51.8 million and RM12.1 million, respectively, representing a current ratio of 4.27 times. The group has cash and cash equivalents of RM29.6 million, while total borrowings amounted to RM10.9 million as at FY24, resulting in a healthy gearing ratio of 0.18 times. In addition, the group recorded positive net cash from operating activities for the past three financial years and has no accumulated losses. The group has also met the public shareholding spread requirement and complied with the Bumiputera equity requirement for public listed companies. Lawrence said Farm Price’s outlook remains positive as the group continues to deepen its presence in key markets across Malaysia and Singapore while strengthening its distribution capabilities. “Notably, the expansion of the Centralised Distribution Centre in Senai has been completed, with commissioning expected in the first quarter of 2026. Once operational, the expanded facility is expected to enhance Farm Price’s value added service offerings, increased handling capacity and supported greater operational efficiency.” To facilitate the transfer, the group has proposed amendments to its constitution to ensure compliance with Bursa Malaysia’s Main Market Listing Requirements. Farm Price was listed on the ACE Market of Bursa Malaysia on May 14, 2024 and raised RM24.5 million.

Syed Ali (right) and Tan at the official launch of Jesselton Courtyard Sales Gallery in Penang.

WCT plans Islamic notes programme of up to RM5 billion

KUALA LUMPUR: WCT Holdings Bhd plans to establish an Islamic notes issuance programme with an aggregate nominal value of up to RM5 billion, comprising senior Islamic medium term notes and/or subordinated perpetual Islamic notes based on the syariah principle of Wakalah Bi Al Istithmar . In a filing with

under the sukuk wakalah programme were assigned preliminary credit ratings of A+IS and A-IS, respectively, with a positive outlook, by MARC Ratings Bhd. “Under the sukuk wakalah programme, WCT would also have the flexibility to issue sustainability sukuk wakalah and/or sustainability-linked sukuk wakalah,” it said. The proceeds raised from the sukuk wakalah will be utilised for working capital requirements, refinancing, to defray fees and costs, as well as to fund the sukuk trustee’s reimbursement account under the sukuk wakalah programme. AmInvestment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the sukuk wakalah pro gramme. AmBank Islamic Bhd and Maybank Islamic Bhd are the joint syariah advisers.

under the sukuk wakalah programme shall be made within 90 business days from the date of lodgement. “The tenure of each senior sukuk wakalah to be issued shall be at least one year and up to such period to be determined prior to each issuance, while the tenure of each perpetual sukuk wakalah to be issued shall be perpetual,” the group said. WCT said the senior sukuk wakalah and the per petual sukuk wakalah

Bursa Malaysia, WCT said the sukuk wakalah programme will have a perpetual programme tenure. “The first issuance