Capital World Limited Provides Significant Update on Progress of Sales and Purchase Agreement with MK Mustafa

Date: 19 February 2026

Key Highlights

• Substantial Deposits Collected: As of 19 February 2026, Capital City Property Sdn Bhd (“CCPSB”), a subsidiary of Capital World Limited, has received an aggregate deposit of RM98,000,000 from MK Mustafa. This amount represents approximately 26.63% of the total Purchase Price under the Sales and Purchase Agreement (SPA).
• Recent Payment: On 19 February 2026, CCPSB received an additional deposit of RM2,000,000 from MK Mustafa, further advancing the completion of the SPA.
• Staggered Payments: The total deposit accumulated includes several key payments:
  • RM5,000,000 on 5 June 2024
  • RM5,000,000 on 13 August 2024
  • RM3,000,000 on 3 October 2024
  • RM17,000,000 on 13 November 2024
  • RM3,000,000 on 22 July 2025
  • RM2,000,000 on 19 February 2026
• Approval Status: MK Mustafa has successfully obtained critical “433B Approvals” for 55 units out of the total 591 units involved in the transaction. However, 433B Approvals for the remaining 536 units are still pending.

Matters of Importance for Shareholders

• Completion Risk Due to Outstanding Approvals: The deal’s completion is still subject to the receipt of the outstanding 433B Approvals for the majority of the units. Any delay or inability to secure these approvals could impact the completion timeline or even the viability of the entire transaction, which may have a direct and material impact on the Company’s share price.
• Material Cash Inflows: The substantial deposits received (RM98 million, or 26.63% of the total Purchase Price) represent significant cash inflow and financial progress for the Company, potentially strengthening its balance sheet and liquidity position.
• Unconditional SPA Status: As of 28 March 2024, the SPA became unconditional, which required the payment of an Additional Deposit of RM30 million. This signals a firm commitment from MK Mustafa, but final completion is still pending regulatory approvals.
• Potential Share Price Sensitivity: Any updates or breakthrough in obtaining the remaining approvals, or any news of delays, could materially affect the share price due to the size and significance of the transaction.
• Ongoing Updates: The Company has committed to updating shareholders with any material developments regarding the SPA’s completion. Shareholders are strongly advised to monitor future announcements closely and to seek professional advice before taking any action concerning their securities.

Management Statement

Datuk Wira Eric Tan Eng Huat, Managing Director, reiterated the Company’s commitment to transparency and timely updates. The Board urges shareholders to read all related announcements carefully and to seek advice from professional advisors if uncertain about their decisions.

Contact for Further Information

For further clarification, shareholders and interested parties may contact the Company’s sponsor, RHT Capital Pte. Ltd. (Contact: Mr. Josh Tan, 36 Robinson Road, #10-06 City House, Singapore 068877, Email: [email protected]).

Disclaimer

This article is intended for informational purposes only and does not constitute investment advice or a solicitation to buy or sell securities. The Singapore Exchange Securities Trading Limited (“Exchange”) has not examined or approved this content and assumes no responsibility for its accuracy or any statements or opinions made herein. Investors are advised to consult their professional advisors before making any investment decisions.

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