Global Oriental Berhad Seeks Shareholders’ Approval for Renewal of Mandate on Recurrent Related Party Transactions

Global Oriental Berhad (GOB) has issued a circular to shareholders regarding the proposed renewal of the shareholders’ mandate for recurrent related party transactions (RRPTs) of a revenue or trading nature. This proposal will be tabled as Special Business at the upcoming 25th Annual General Meeting (AGM) scheduled for 27 August 2026 at Putrajaya Marriott Hotel.

Key Highlights of the Circular

• Mandate Renewal: The mandate allows GOB and its subsidiaries to enter into RRPTs concerning the sale of properties in the ordinary course of business involving Directors, Major Shareholders, and Persons Connected to them. These transactions are deemed necessary for the day-to-day operations of the Group and are conducted at arm’s length, on normal commercial terms, and not on terms more favourable to related parties than those available to the public.
• Scope and Validity: The renewed mandate, if approved, will be effective from 27 August 2026 until the next AGM or until revoked/varied by shareholders. The Group expects such RRPTs to continue as part of its normal business operations.
• Classes of Related Parties: The mandate covers Directors, Major Shareholders, and Persons Connected to them. Purchases by these parties are subject to prevailing market conditions and the availability, type, and pricing of properties offered by GOB.
• Disclosure and Compliance: GOB is required to disclose the aggregate value of RRPTs annually, and any transaction exceeding the estimated value disclosed by 10% or more must be immediately announced to Bursa Malaysia.
• Review Procedures: The Group has put in place various procedures to ensure RRPTs are undertaken at arm’s length and not detrimental to minority shareholders. These procedures include comparisons with unrelated third-party transactions, audits, and reviews by the Audit and Risk Management Committee.
• Audit Committee Statement: The Audit and Risk Management Committee (ARC) has reviewed the procedures for RRPTs and considers them sufficient and effective for ensuring these transactions are fair and conducted on normal commercial terms.
• Material Contracts: The only material contract disclosed is the sale of eighteen stratified retail units in Pavilion Embassy for RM35.0 million, entered into by several subsidiaries of GOB on 9 January 2026.
• No Material Litigation: The GOB Group is not engaged in any material litigation or arbitration that could affect its financial position or business.
• Directors’ and Major Shareholders’ Interests: Certain Directors and Major Shareholders are deemed interested in the mandate. They and Persons Connected to them will abstain from voting on the relevant resolution at the AGM. Deemed interests are primarily through shareholdings in Idaman Motif Sdn Bhd.
• Effects on Shareholders: The proposed mandate is not expected to have any material impact on the share capital, major shareholders’ shareholdings, net assets, or earnings of the Group.
• Administrative Efficiency: If approved, the mandate will allow the Group to conduct RRPTs without seeking shareholder approval for each transaction, enhancing efficiency and reducing costs.

Potential Price-Sensitive Information

• The renewal of the RRPT mandate could enable GOB to swiftly capitalize on business opportunities and property sales involving related parties without administrative delays.
• The sale of eighteen retail units for RM35.0 million represents a significant transaction but is considered part of ordinary business operations.
• The mandate’s annual renewal and strict compliance procedures aim to ensure governance and protect minority shareholders, which may be viewed positively by investors.
• No adverse litigation or material contract issues have been reported, supporting a stable outlook for GOB.

Important Shareholder Actions

• Shareholders are advised to carefully review the circular before voting at the AGM.
• Interested parties must abstain from voting on the RRPT resolution.
• Shareholders who cannot attend the AGM are encouraged to submit proxy forms by 25 August 2026.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own research and consult professional advisors before making any investment decisions. The information is based on the GOB Circular dated 29 July 2026 and is accurate to the best of the reporter’s knowledge. The reporter accepts no liability for any loss arising from reliance on this article.

Versi Bahasa Malaysia

Global Oriental Berhad (GOB) telah mengeluarkan pekeliling kepada pemegang saham berkenaan cadangan pembaharuan mandat pemegang saham untuk transaksi pihak berkaitan berulang (RRPT) yang bersifat hasil atau dagangan. Cadangan ini akan dibentangkan sebagai Urusan Khas pada Mesyuarat Agung Tahunan (AGM) ke-25 yang dijadualkan pada 27 Ogos 2026 di Putrajaya Marriott Hotel.

Maklumat Penting Pekeliling

• Pembaharuan Mandat: Mandat ini membenarkan GOB dan subsidiarinya menjalankan RRPT berkenaan penjualan hartanah dalam urusan perniagaan biasa melibatkan Pengarah, Pemegang Saham Utama dan Orang Berkaitan dengan mereka. Transaksi ini perlu dilakukan secara adil, terma komersil biasa, dan tidak lebih baik kepada pihak berkaitan berbanding orang awam.
• Skop dan Tempoh: Mandat yang diperbaharui akan berkuatkuasa dari 27 Ogos 2026 hingga AGM seterusnya atau sehingga dibatalkan/dipinda oleh pemegang saham.
• Kelas Pihak Berkaitan: Mandat meliputi Pengarah, Pemegang Saham Utama dan Orang Berkaitan dengan mereka. Pembelian oleh pihak ini bergantung kepada keadaan pasaran dan ketersediaan serta jenis harga hartanah yang ditawarkan GOB.
• Pendedahan dan Kepatuhan: GOB perlu mendedahkan nilai agregat RRPT setiap tahun, dan transaksi yang melebihi anggaran nilai yang didedahkan sebanyak 10% atau lebih mesti diumumkan serta-merta kepada Bursa Malaysia.
• Prosedur Semakan: Kumpulan telah menetapkan pelbagai prosedur untuk memastikan RRPT dilakukan secara adil dan tidak mendatangkan mudarat kepada pemegang saham minoriti.
• Kenyataan Jawatankuasa Audit: Jawatankuasa Audit dan Pengurusan Risiko menyatakan prosedur yang ada adalah mencukupi dan berkesan untuk memastikan transaksi adil dan mengikut terma komersil biasa.
• Kontrak Material: Satu-satunya kontrak material yang didedahkan ialah penjualan 18 unit runcit stratifikasi di Pavilion Embassy bernilai RM35.0 juta pada 9 Januari 2026.
• Tiada Litigasi Material: GOB tidak terlibat dalam litigasi atau timbang tara material yang boleh menjejaskan kedudukan kewangan atau perniagaan.
• Kepentingan Pengarah dan Pemegang Saham Utama: Pengarah dan Pemegang Saham Utama yang berkepentingan akan mengecualikan diri daripada mengundi pada resolusi berkaitan RRPT. Kepentingan utama adalah melalui pegangan saham dalam Idaman Motif Sdn Bhd.
• Kesan kepada Pemegang Saham: Mandat ini tidak dijangka memberi kesan material kepada modal saham, pegangan pemegang saham utama, aset bersih ataupun pendapatan Kumpulan.
• Kecekapan Pentadbiran: Mandat ini membolehkan Kumpulan menjalankan RRPT tanpa perlu mendapatkan kelulusan pemegang saham bagi setiap transaksi, sekali gus meningkatkan kecekapan dan mengurangkan kos.

Maklumat Sensitif Berpotensi Mengubah Harga Saham

• Pembaharuan mandat RRPT boleh membolehkan GOB mengambil peluang perniagaan dan penjualan hartanah kepada pihak berkaitan secara pantas tanpa kelewatan pentadbiran.
• Penjualan 18 unit runcit bernilai RM35.0 juta adalah transaksi signifikan namun dianggap sebahagian daripada operasi biasa.
• Prosedur tahunan dan kepatuhan yang ketat bertujuan memastikan tadbir urus dan perlindungan pemegang saham minoriti, yang boleh dilihat positif oleh pelabur.
• Tiada isu litigasi atau kontrak material yang menjejaskan kedudukan GOB, menyokong prospek stabil syarikat.

Tindakan Penting Pemegang Saham

• Pemegang saham dinasihatkan untuk meneliti pekeliling sebelum mengundi pada AGM.
• Pihak yang berkepentingan perlu mengecualikan diri daripada mengundi pada resolusi RRPT.
• Pemegang saham yang tidak dapat hadir digalakkan menghantar borang proxy sebelum 25 Ogos 2026.

Penafian

Artikel ini adalah untuk tujuan maklumat sahaja dan tidak merupakan nasihat pelaburan. Pelabur dinasihatkan membuat kajian sendiri dan mendapatkan nasihat profesional sebelum membuat keputusan pelaburan. Maklumat adalah berdasarkan Pekeliling GOB bertarikh 29 Julai 2026 dan tepat mengikut pengetahuan wartawan. Wartawan tidak bertanggungjawab ke atas sebarang kerugian akibat kebergantungan kepada artikel ini.

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