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“TWL Holdings says RM1.8 million remains outstanding for refund following the mutual termination of three Klang property joint ventures, with repayment due by June 2027.”
Kuala Lumpur, 03rd July 2026, 02.20pm – TWL Holdings Bhd has provided additional information to Bursa Malaysia regarding the mutual termination of three long-running joint venture agreements (JVAs) in Klang, revealing that RM1.8 million in consideration payments remains outstanding and is scheduled to be refunded by June 2027.
The clarification follows Bursa Malaysia’s request for further details after TWL announced the termination of the agreements involving its wholly owned subsidiary, TWL Builders Sdn Bhd, and three landowners — Pentas Irama Sdn Bhd, Elitprop Sdn Bhd and Greatprop Development Sdn Bhd.
RM1.8 Million to Be Refunded
According to TWL, its subsidiary had paid RM600,000 to each joint venture partner under the respective agreements.
The combined RM1.8 million remains outstanding and will be repaid by June 28, 2027, in accordance with the mutual termination agreements signed on June 29, 2026.
The company said the 12-month repayment period was mutually agreed after considering the counterparties’ financial commitments and cash flow requirements.
The agreements do not impose penalties or interest should repayment be delayed. However, if the refunds are not made by the agreed deadline and no extension is negotiated, TWL Builders may pursue its legal rights under the agreements and applicable law.
Projects Failed to Meet Completion Timeline
TWL said each joint venture required the proposed developments to be completed within two years of obtaining layout plan approval or within an extended completion period agreed by both parties.
The projects remained incomplete after the extended deadlines expired, prompting both parties to mutually terminate the agreements.
The terminated projects involved residential and commercial developments on three land parcels in Mukim Klang, Selangor.
Development Costs Already Reimbursed
The company also disclosed that development-related expenses incurred during the projects had already been reimbursed by the respective landowners.
The reimbursed amounts were:
- RM11.19 million for the Elitprop project.
- RM4.86 million for the Pentas Irama project.
- RM3.93 million for the Greatprop project.
TWL added that various development approvals, including development orders and land conversion approvals, had been obtained during the life of the projects.
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