HCK Capital inks JV deal for RM600m Cheras development

• The group said its indirect wholly owned subsidiary Trilink Essential Sdn Bhd (TESB) signed the agreement with the landowner, Bongsor Development Sdn Bhd, for the development of the 6.87-hectare parcel of freehold land.

KUALA LUMPUR (Sept 17): HCK Capital Group Bhd (KL:HCK) said it had entered into a joint-venture deal with a landowner to undertake a property development in Cheras with an estimated gross development value of RM600 million.

In a filing with Bursa Malaysia on Wednesday, the group said its indirect wholly owned subsidiary Trilink Essential Sdn Bhd (TESB) signed the agreement with the landowner, Bongsor Development Sdn Bhd, for the development of the 6.87-hectare parcel of freehold land.

Under the agreement, TESB will be granted exclusive rights to design and execute the development, as well as to market and sell the units that form part of the development. The company will be entitled to all revenue and proceeds from the project, save for a portion allocated to Bongsor Development, in the form of cash and unit entitlements.

Construction is expected to begin within two years and completed within five years, with an option to extend for another year.

HCK Capital said the project will be financed through a combination of internal funds and bank borrowings.

“The proposed joint venture reflects the group’s commitment to delivering projects that stand out in idea, quality and design, while meeting market needs and creating long-term value for stakeholders,” the group said.

For the second quarter ended June 30, 2025, HCK Capital posted a net loss of RM4.28 million, compared with a net profit of RM5.15 million a year earlier, as revenue fell 65.7% to RM32.79 million from RM95.68 million.

For the first half ended June 30, 2025, the group recorded a cumulative net loss of RM5.92 million on revenue of RM56.98 million, versus a net profit of RM11.11 million on revenue of RM309.70 million in the same period last year.

HCK Capital’s shares ended one sen or 0.46% lower at RM2.17 on Wednesday, valuing the group at RM1.35 billion.

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