Titijaya buys 99% stake in Ampang land owner

1 min readUpdated Jun 4, 2025Mar 29, 20183:49 AM

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Titijaya Land Bhd is buying a 99% stake in BJ Properties Sdn Bhd, which owns 6.8 acres of leasehold land in Ampang that it plans to develop into a RM1.5 billion gross development value project.

In a filing with Bursa Malaysia today, the group said its purchase is in line with its growth strategy in expanding its land bank and investing in strategic property development projects in the Klang Valley.

The land is expected to be used as mixed development with a focus on the residential component, complemented by some commercial elements.

Titijaya’s wholly owned subsidiary Tulus Lagenda Sdn Bhd will pay up to RM9.9 million for the stake.

Based on the audited financial statements for the financial year ended Aug 31, 2017, BJ Properties recorded a net loss of RM1.06 million and negative shareholders fund of RM3.07 million. The land in Ampang has a book value of RM103.67 million.

Titijaya intends to fund the proposed subscription via internally generated funds and/or bank borrowings. The company’s share price closed 1.5 sen lower to close at 52.5 sen with some 331,100 shares changing hands.

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What this means

Titijaya's acquisition of BJ Properties for a RM1.5 billion project in Ampang represents a calculated, albeit aggressive, expansion of its core property development business. This mirrors a broader trend of retail and real estate growth in Malaysia, as seen with ZUS Coffee's plan for 200 new stores. While the target's current financial state presents a risk, Titijaya is clearly betting on the inherent value of the Ampang land and the demand for residential units with commercial elements. This move will pressure other developers vying for strategic Klang Valley parcels. The reliance on internal funds or bank borrowings suggests confidence in securing project financing. We will be watching for the project's official launch and pricing strategy.

Rajiv Menon · Retail News Asia newsroom

Questions & Answers

What is the total value Titijaya expects to generate from the Ampang land development?

Titijaya plans to develop the 6.8 acres of leasehold land in Ampang into a project with an estimated gross development value of RM1.5 billion. This value is anticipated from the mixed development focusing on residential and commercial components.

What is the financial state of BJ Properties, the company Titijaya is acquiring, according to its last audited statements?

Based on its audited financial statements for the year ended Aug 31, 2017, BJ Properties recorded a net loss of RM1.06 million. Also, it had a negative shareholders' fund of RM3.07 million at that time.

How does Titijaya plan to finance the acquisition of the 99% stake in BJ Properties?

Titijaya intends to fund the proposed acquisition through a combination of its internally generated funds and/or by securing bank borrowings. The total payment for the stake will be up to RM9.9 million.

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