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“Chin Hin Group Property and Kelana Megah have extended the conditional period for their Johor Bahru joint development agreement until Dec 9, 2026, as key conditions remain pending.”
Kuala Lumpur, 11th June 2026, 12.00pm – Chin Hin Group Property Bhd (CHGP) has extended the conditional period for its proposed joint development in Johor Bahru by another six months after conditions precedent under the agreement were not fully satisfied.
In a filing with Bursa Malaysia, the property developer said its subsidiary, Chin Hin Property (Stulang) Sdn Bhd, and Kelana Megah Sdn Bhd had mutually agreed to extend the conditional period from June 10, 2026 to Dec 9, 2026.
The latest extension follows earlier supplemental arrangements signed in June and December 2025.
The joint development agreement (JDA), originally announced in September 2024, involves a leasehold land parcel in Bandar Johor Bahru measuring approximately 17,342 sq m, or about 186,668 sq ft.
The project is being undertaken between Chin Hin Property (Stulang) and Kelana Megah, a wholly owned subsidiary of Duty Free International Ltd.
Duty Free International separately issued a corresponding announcement on the Singapore Exchange (SGX), confirming the revised timeline. Atlan Holdings Bhd, which is linked to the corporate structure through Duty Free International, also released a similar filing on Bursa Malaysia.
According to the filings, the conditions precedent under the JDA had not been fully fulfilled before the previous expiry date of June 9, 2026, resulting in both parties agreeing to extend the timeline.
Apart from the revised conditional period, all other terms and provisions under the agreement remain unchanged and continue to be in full force.
The parties also retain the option to further extend the conditional period beyond Dec 9, 2026, subject to mutual agreement.
At this stage, the proposed development remains conditional and construction has yet to commence.
Duty Free International noted in its SGX announcement that there is no assurance the proposed project will eventually proceed to completion and advised investors to exercise caution when trading the company’s shares.
Project Located in Johor Bahru Growth Corridor
The land parcel is situated in Bandar Johor Bahru, an area that continues to benefit from increasing investment activity and infrastructure improvements linked to the broader Johor growth corridor.
Johor’s property market has attracted renewed attention in recent years, supported by cross-border economic initiatives, industrial expansion and improving connectivity.
MetProperty Analysis
The repeated extensions suggest that certain regulatory, commercial or transaction-related requirements remain unresolved before the project can proceed.
While such extensions are not uncommon in large-scale property transactions, they may delay the project’s launch timeline and recognition of future earnings.
Nevertheless, Johor Bahru remains one of Malaysia’s most closely watched property markets, particularly with growing investor interest surrounding the Johor-Singapore Special Economic Zone and continued infrastructure developments in the southern region.
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