Citaglobal Extends Timeline for Jalan Tun Razak Joint Venture

MT Newswires Live2025-12-23

Citaglobal Berhad (KLSE:CITAGLB) said it has agreed with its joint venture partner to extend the timeline to complete remaining conditions for a proposed mixed-use development on Jalan Tun Razak, Kuala Lumpur, according to a Monday Malaysian bourse filing.

Shares of the firm were down nearly 2% in Tuesday afternoon trade.

The long-stop date has been pushed back by one month to Jan. 22, 2026, with an option to extend it further to Feb. 22, 2026, if needed.

The proposed joint venture is between Citaglobal Property Development, an indirect wholly-owned subsidiary of Citaglobal Berhad, and Varia Crest, an indirect wholly-owned subsidiary of Varia Berhad (KLSE:VARIA), for a mixed-use project on a 1.58-acre leasehold site.

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