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“TWL Holdings has mutually terminated three long-running Klang property joint ventures signed between 2013 and 2014 after the projects became unworkable following expired completion timelines.”
Kuala Lumpur, 30th June 2026, 02.45pm – TWL Holdings Bhd has officially terminated three long-standing joint venture agreements (JVAs) involving proposed residential and commercial developments in Klang, bringing projects first initiated more than a decade ago to a close.
In separate filings with Bursa Malaysia, the group said its wholly owned subsidiary, TWL Builders Sdn Bhd (formerly Tiger Synergy Development Sdn Bhd), and the respective landowners had mutually agreed to terminate the agreements with immediate effect.
The affected projects involve three land parcels in Mukim Klang, Selangor, under agreements signed between 2013 and 2014 with Greatprop Development Sdn Bhd, Elitprop Sdn Bhd and Pentas Irama Sdn Bhd.
Projects No Longer Viable
According to TWL, the developments were originally intended to deliver residential and commercial projects that would contribute positively to the group’s long-term earnings and cash flow.
Under the agreements, each development was required to be completed within two years after layout plan approval, unless an extension was mutually agreed upon.
However, the extended completion periods have since expired, making it impossible for the parties to fulfil the contractual obligations.
As a result, both TWL and the respective landowners agreed that terminating the joint ventures was the most appropriate course of action.
Refunds to Be Made
Following the termination, TWL said all consideration previously paid by its subsidiary to each landowner will be refunded in accordance with the terms of the agreements.
The company added that the termination agreements do not involve any additional penalties, break fees or forfeiture of deposits.
No Material Financial Impact
TWL said the mutual terminations are not expected to have any material impact on the group’s earnings per share, net assets, gearing, paid-up capital or substantial shareholders’ interests.
The board of directors also stated that the decision is in the company’s best interests and does not require approval from shareholders or regulatory authorities.
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