PETALING JAYA (July 10) — Lim Seong Hai Capital Bhd (LSH Capital) has been granted additional time by Perbadanan Aset Keretapi (RAC) to finalise the agreement for the proposed development of two parcels of land in Selangor.

The latest extension allows both parties to continue finalising the transaction documents without altering the commercial terms of the proposed development.

Deadline Extended to July 15, 2026

According to LSH Capital, RAC has agreed to extend the deadline for signing the definitive agreement from the previous timeline to July 15, 2026.

The extension was approved on July 8, 2026, giving both parties additional time to complete the necessary documentation before executing the formal agreement.

The company noted that, apart from the revised signing deadline, all other terms and conditions contained in the Letter of Offer remain unchanged.

Proposed Development Covers 17.4 Acres

The proposed project involves the development of approximately 17.4 acres of land located in:

• Daerah Petaling
• Mukim Pekan Country Heights
• Selangor

The land is owned by Perbadanan Aset Keretapi (RAC), the government agency responsible for managing and developing railway land assets in Malaysia.

LSH Capital had previously announced the proposed development in May and June 2026 and continues to work towards finalising the definitive agreement.

Further Updates to Follow

The company said it will make further announcements to Bursa Malaysia once:

• The definitive agreement has been finalised and executed; or
• There are any material developments relating to the proposed project.

Until then, the proposed development remains subject to the successful execution of the formal agreement.

What This Means

The extension does not indicate any change to the commercial fundamentals of the proposed development but rather reflects the additional time often required to complete documentation for sizeable land development transactions.

For LSH Capital, securing development rights over 17.4 acres of RAC-owned land in Selangor could provide another strategic addition to its property development pipeline once the agreement is executed. Government-owned land developments typically involve detailed legal, commercial and regulatory documentation, making extensions of this nature relatively common before definitive agreements are signed.

From a broader property market perspective, the proposed project highlights the continued effort to unlock the value of strategically located government land through partnerships with private developers. Such developments have the potential to contribute to urban regeneration, create new residential or commercial opportunities, and support long-term economic growth in the Klang Valley.