Recently, HCK Capital Group Bhd held an extraordinary general meeting (EGM). Shareholders unanimously passed all the resolutions tabled. They involved the injection of three companies into the HCK Capital Group.
The three companies were private vehicles owned by me, my son Clifford and my associates. Andaman Daya Sdn Bhd owned a 14.4 acre land in Cyberjaya, known as Cyber Valley. Fidelity Ventures Sdn Bhd owned 415 units of uncompleted serviced office suites in Subang Jaya and Usas Management Sdn Bhd held 35.25 acres of land in Semenyih.
With the injection of the assets, in exchange for new shares in HCK Capital Group, the listed company now has a marked increase in landbank for it to develop and grow. As an emerging company trying to establish a presence in the competitive property sector, having sizable landbank would inspire confidence in the market.
HCK Capital Group’s newly-acquired plots in Cybervalley and Semenyih will be developed as mixed development projects, possibly with an education component similar to the RM1.3 billion GDV Edusentral project in Setia Alam, which comes with an international school. The Subang Jaya project involves a highrise and is strategically located.
I am gratified that shareholders had agreed to the deal, which had been signed off by an external valuer and received the go-ahead from Bursa Malaysia. The next thing to do is to continue working to keep the shareholders happy by creating more value to the company in the long-run.