Detailed Update
GRP Limited (“the Company”), together with its subsidiaries (collectively referred to as “the Group”), has announced a significant development concerning its affordable housing project in Seri Iskandar, Perak. The company’s Board of Directors reported that its subsidiary, Ratus Nautika, has received a formal letter dated 11 May 2026 from the Malaysian Ministry of Housing and Local Government confirming that Ratus Nautika has fulfilled all obligations under Section 7C of the Housing Development (Control and Licensing) Act 1966 [Act 118] Amendment 2007 and Regulation 11A of the Housing Development (Housing Development Account) Regulations 1991.
This compliance is a major milestone for the Group, as it has resulted in the immediate unfreezing of the remaining funds in Ratus Nautika’s HDA Account, totaling approximately RM1.06 million. These funds had previously been restricted and could not be used for the development or operational needs of the affordable housing project.
With the lifting of these restrictions, the Group now has full access to these resources and will be able to deploy the funds for the ongoing needs and further development of the affordable housing project in Seri Iskandar. This development is expected to streamline project execution, strengthen the Group’s financial position, and potentially accelerate project timelines.
Price-Sensitive Information for Shareholders
- Regulatory Compliance Achieved: The confirmation of regulatory compliance removes significant uncertainty and legal risk from the project, which is a positive signal for investors and may support share price performance.
- Unlocking of RM1.06 Million: The unfreezing of the HDA Account directly improves the Group’s liquidity and financial flexibility, ensuring that essential project activities can proceed without financial hindrance.
- Potential Impact on Share Value: These developments reduce project execution risk and could lead to positive market sentiment, as the Group demonstrates progress in delivering on its commitments and unlocking value from its assets.
Conclusion
This announcement marks a pivotal step for GRP Limited’s affordable housing initiative in Malaysia. The regulatory clearance and release of significant project funds are expected to support project momentum and may have a positive impact on investor confidence and the company’s share price.
The Board of Directors, led by Executive Director and CEO Goh Lik Kok, will continue to monitor developments and keep shareholders updated on further progress.
Disclaimer
This news article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult professional advisors before making investment decisions. The information is based on the latest company announcement as of 13 May 2026 and is subject to change.
