Reference is made to our announcements dated 29 December 2023, 29 January 2024, 31 May 2024, 30 October 2024,19 March 2026, 29 May 2026 and 26 June 2026.
The Board of Directors of BKCB wish to inform that its wholly-owned subsidiary, Optimal Property Management Sdn Bhd ("OPM"), had on 27 July 2026 received a letter from Universiti Islam Melaka Berhad (formerly known as Kolej Teknologi Islam Melaka Berhad) ("UIMB") setting out its proposed settlement arrangement.
BKCB had on 29 July 2026 requested UIMB to clarify whether UIMB intended to proceed with an offer for the acquisition of the entire equity interest in OPM, in view of the timeline stipulated under the Extension of Interim Settlement Proposal 1 ("EISP 1").
On 30 July 2026, BKCB received UIMB's reply, in which UIMB reiterated its proposal to continue the concession under a revised payment arrangement while pursuing an overall settlement through, among others, asset disposals and bank financing. UIMB also indicated that it believes a full settlement may be achieved as early as March 2027, although it has proposed that the revised arrangement extend until December 2028.
Pursuant to EISP 1 executed on 25 May 2026, as no acquisition offer was concluded by 31 July 2026, the parties shall proceed with negotiations on the proposed restructuring of the Concession Agreement, which are to be concluded via Supplementary Agreement by 30 September 2026 in accordance with the terms of EISP 1. Pending the outcome of such negotiations, the existing payment schedule under EISP 1 up to 31 December 2026 shall remain applicable. Any proposed payment arrangement beyond 31 December 2026 remains subject to further negotiations and mutual agreement between the parties.
The Company is currently reviewing UIMB's latest response, including its implications under the existing contractual arrangements and EISP 1, and will continue its engagement with UIMB where appropriate.
The Company will make the necessary announcement as and when there are any further material developments.
This announcement is dated 31 July 2026.