YNH Property Delays RM34 Mln In Interest-Like Payments On Its Perpetual Securities
KUALA LUMPUR, July 23 (Bernama) -- YNH Property Bhd has exercised its contractual right to defer approximately RM34.41 million in coupon payments and accrued obligations related to its two outstanding tranches of perpetual securities.
In a Bursa Malaysia filing today, the company announced that it will defer approximately RM7.87 million of its RM87 million perpetual securities tranche. This amount was originally due on July 30, 2026, but will now be paid on the next scheduled payment date of Jan 29, 2027.
It said approximately RM26.54 million under its RM263 million tranche, originally payable on Aug 7, 2026, has been deferred until Feb 8, 2027.
“The deferments have been executed strictly in accordance with the contractual parameters of the perpetual securities programme.
“YNH has submitted the requisite director certificates confirming its full compliance with the relevant conditions stipulated under Clause 6.3 of the Trust Deed,” it said.
The deferment is directly tied to the group’s impending liquidity event: the proposed sale of its prime freehold land along Jalan Sultan Ismail, Kuala Lumpur, for cash consideration of RM455 million, as announced on July 8, 2026.
“Upon the completion of this transaction, YNH intends to deploy the proceeds toward the complete redemption of the perpetual securities and the settlement of all outstanding coupon obligations, including any compounded and accrued interest,” it said.
In the interim, the deferment allows the group to preserve its existing cash reserves to fund its active development pipeline and continue unlocking value from its broader asset portfolio without disrupting operational momentum.
“By executing this contractual deferment, we are ensuring that our existing working capital remains dedicated to the execution of our active projects, including Solasta Dutamas and our township developments in Seri Manjung.
“We remain focused on progressing the RM455 million transaction in an orderly manner while prudently managing the group’s operational liquidity,” it said.
-- BERNAMA