Johan Holdings Bhd has announced the proposed disposal of a hospitality asset in Lumut, Perak, via its 80%-owned subsidiary, in a cash transaction valued at RM47.43 million. Notably, the disposal consideration is almost twice the company’s market capitalisation of approximately RM24.33 million as at mid-February, underscoring the material impact of the deal.
According to its filing with Bursa Malaysia, Lumut Park Resort Sdn Bhd has signed a conditional sale and purchase agreement with Golden Peak Hospitality & Consultancy Sdn Bhd (GPHC) and Bujang Holdings Sdn Bhd. The sale includes the 150-room Orient Star Lumut together with three adjoining parcels of land measuring a combined 6.69 acres.
GPHC’s ultimate shareholder is Bujang Holdings, owned by Mesnor Bujang and Mardiana Mohamed. The remaining 20% stake in Lumut Park Resort is held by Syarikat Majuperak Bhd, a subsidiary of Majuperak Holdings Bhd.
Transaction Details and Valuation
The hotel property is being sold for RM32.96 million, representing a modest 1.03% discount to its market valuation of RM33.3 million. The three land parcels were also transacted slightly below appraised market values:
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1.69 acres at RM5.11 million (7.11% below valuation)
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3.22 acres at RM6.23 million (1.11% below valuation)
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1.77 acres at RM3.13 million (15.32% below valuation)
Overall, Johan Holdings expects to recognise a gain of approximately RM3.88 million from the disposal. The proceeds will be channelled towards working capital requirements and transaction-related expenses. Completion is targeted for the third quarter of 2026, subject to shareholders’ approval at an extraordinary general meeting.
Market Insight: Capital Recycling and Property Strategy
Although this transaction involves a hospitality asset outside Klang Valley, it reflects a broader corporate trend of capital recycling and portfolio optimisation. Asset divestments often enable companies to strengthen liquidity and reposition towards sectors offering stronger growth potential.
Within the Klang Valley, particularly Kuala Lumpur and Selangor, demand fundamentals remain comparatively resilient in segments such as industrial land in Selangor, commercial property in KL, and strategically located office space in Bukit Jalil. Industrial corridors continue to attract logistics operators, manufacturers, and SMEs seeking expansion, especially in areas like Puchong and the Subang area where connectivity and infrastructure support operational efficiency.
Investors exploring a factory in Puchong or industrial property in Subang area are increasingly focused on scalability, access to highways, and workforce catchment. Meanwhile, established townships such as Bukit Jalil are seeing steady interest in quality office space driven by decentralisation trends and cost optimisation strategies among businesses.
Corporate exercises like Johan Holdings’ disposal highlight how property owners monetise non-core assets to unlock value — a strategy that can be particularly relevant for investors assessing portfolio repositioning opportunities within Kuala Lumpur and Selangor’s industrial and office markets.
Malaysia