“Datuk Joseph Lau, CEO of Desa ParkCity developer Perdana ParkCity, acquires 11.1% stake in Crest Builder Holdings via RM11.7 mil private placement to support project financing and debt repayment.“
Kuala Lumpur, 10th June 2025, 10.00am – Datuk Joseph Lau, the chief executive officer of Perdana ParkCity Sdn Bhd, the developer behind the prestigious Desa ParkCity township, has emerged as the second-largest shareholder of Crest Builder Holdings Bhd after participating in a recent private placement.
According to a Bursa Malaysia filing on Monday, Lau acquired 23.4 million new shares at 50 sen apiece, amounting to an investment of RM11.7 million. The acquisition gives him an 11.1% equity stake in the construction and property group.
Lau is also a director at Perdana ParkCity, the property development arm of Samling Group, a conglomerate with interests ranging from timber to automotive.
Strategic Stake Amid Capital Raising Exercise
The private placement saw Crest Builder raise RM24.3 million, with nearly half of the new shares taken up by Lau. The funds will be channelled towards:
- RM19.44 million: Partial repayment of revolving credit facility
- RM3.93 million: Procurement of building materials for ongoing projects, including those in Kiaramas and Desa ParkCity
Shareholding Reshuffle
Following the placement:
- SC Yong Holdings Sdn Bhd, controlled by the Yong family, saw its stake in Crest Builder diluted from 43.23% to 33.24%.
- Yong Shang Ming remains as the group’s managing director.
Financial Snapshot
As of March 31, 2025:
- Crest Builder’s total borrowings stood at RM602.43 million
- Cash balances amounted to RM89.49 million
Market Reaction
Crest Builder shares closed 2.5 sen lower at 57 sen on Monday, down 4.2% for the day. The group’s market capitalisation stood at RM128.2 million, with a year-to-date decline of 5%.
