{"id":647,"date":"2025-06-15T16:01:03","date_gmt":"2025-06-15T16:01:03","guid":{"rendered":"https:\/\/hartaco.com\/?p=647"},"modified":"2025-06-15T16:01:03","modified_gmt":"2025-06-15T16:01:03","slug":"nct-alliance-acquires-majority-share-in-sabah-developer-via-rm22m-cash-and-land-exchange","status":"publish","type":"post","link":"https:\/\/hartaco.com\/index.php\/2025\/06\/15\/nct-alliance-acquires-majority-share-in-sabah-developer-via-rm22m-cash-and-land-exchange\/","title":{"rendered":"NCT Alliance acquires majority share in Sabah developer via RM22m cash and land exchange"},"content":{"rendered":"<p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/hartaco.com\/wp-content\/uploads\/2025\/06\/NCT_Alliance_acquires_majority_share_in_Sabah_developer_via_RM22m_cash_and_land_exchange_v1_generated_image_20250616000100.png\" alt=\"Article featured image\"\/><\/figure>\n<\/p>\n<p>Malaysian property developer NCT Alliance Bhd is expanding its footprint in Sabah through a strategic acquisition, securing a majority stake in local firm Setara Juara Sdn Bhd for RM22 million. The deal, finalized through NCT&#8217;s subsidiary NCT Panorama, grants the company a 51% controlling interest in Setara Juara, which holds development rights for a prime 249.67-acre site in Putatan.<\/p>\n<p>The land, designated for the RM3.4 billion Ion Marina Bay mixed-development project, is strategically positioned near Kota Kinabalu International Airport and Putatan Town Centre. Slated for completion by 2033, the nine-year project will integrate residential, commercial, and lifestyle elements, further diversifying NCT\u2019s portfolio in East Malaysia.<\/p>\n<p>NCT Alliance\u2019s executive chairman, Datuk Seri Yap Ngan Choy, emphasized the acquisition as a step toward sustainable community development in high-growth regions. Setara Juara\u2019s founders, Herman Lee Show Kien and Melvin Lee Ying, will retain a combined 49% stake while continuing to contribute their local expertise. The transaction will be financed through a mix of cash, bank borrowings, and a land swap arrangement.<\/p>\n<p>With regulatory approvals pending, the acquisition is expected to conclude by mid-2025, reinforcing NCT\u2019s long-term commitment to Sabah\u2019s real estate sector. The partnership aims to enhance Kota Kinabalu\u2019s urban landscape while delivering lasting economic value to the region.<\/p>","protected":false},"excerpt":{"rendered":"<p>Malaysian property developer NCT Alliance Bhd is expanding its footprint in Sabah through a strategic acquisition, securing a majority stake in local firm Setara Juara [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-647","post","type-post","status-publish","format-standard","hentry","category-new"],"_links":{"self":[{"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/posts\/647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/comments?post=647"}],"version-history":[{"count":1,"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/posts\/647\/revisions"}],"predecessor-version":[{"id":648,"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/posts\/647\/revisions\/648"}],"wp:attachment":[{"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/media?parent=647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/categories?post=647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hartaco.com\/index.php\/wp-json\/wp\/v2\/tags?post=647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}