TWL Holdings Bhd - announces mutual termination of joint venture with Pentas Irama Sdn Bhd on June 29, 2026

TWL Holdings Bhd has announced the mutual termination of a joint venture agreement with Pentas Irama Sdn Bhd, effective June 29, 2026. The agreement, initially entered into in June 2017, was intended to facilitate the joint development of a residential and/or commercial project in Klang, Selangor. Under the original terms, TWL was to develop and construct the project, which had an estimated gross development value (GDV) of RM80 million, while Pentas Irama was to receive units valued at 30% of the GDV.

The decision to terminate the joint venture follows a mutual agreement between the parties, with no further details provided regarding the reasons for the termination. TWL has instead shifted its focus to a separate land acquisition in Klang, where it plans to develop a residential project comprising 1,000 affordable apartments with an estimated GDV of RM330 million and a development cost of RM220 million. The company expects acquisition finalized by Q4 2023.

TWL shares closed unchanged at 3.5 sen on June 29, 2026, with a market capitalization of RM146.4 million.