Oriental Interest cancels RM280 million takeover plan
The developer cited a strategic reassessment and greater time and resource needs to complete the proposed purchases.
A proposed RM280 million deal for Oriental Interest Bhd to take full ownership of two companies has been called off, the property developer told Bursa Malaysia. The targets were Chin Hin (Jitra) Sdn Bhd and CHJ Motor Holdings Sdn Bhd.
The cancellation was agreed with the seller, LLSB 1980 Holdings Sdn Bhd, under a termination agreement dated Oct 28, 2026. Oriental Interest said neither party would have claims against its counterparty arising from the purchase agreement.
In explaining the decision, the developer cited a fresh assessment of its strategy, diversification considerations and how the purchases fitted its wider business objectives. Completing the regulatory, approval and procedural steps also required more time and resources than anticipated, it said.
Oriental Interest said its subsidiaries remained focused on growing property development and general construction operations. It pointed to projects under way, rising unbilled sales and a landbank measuring approximately 814.63 hectares as support for those businesses.
