KUALA LUMPUR: Property developer Gold Li Holdings Bhd plans to expand its product offerings, including the construction of its first high-rise residential project in Muar, Johor, which is expected to begin in the first half of 2027.

Executive director and chief operating officer Datin Lau Siew Su said this development marks an important step forward as the group adapts to changing market demand while continuing to focus on landed properties.

“With 97.9 acres of future project and 59.1 acres of landbank, we are well-positioned to support our long-term growth and sustain a steady pipeline of developments in our core markets,” she said at the launch of the group’s IPO prospectus today.

The IPO exercise comprises a public issue of 117 million new ordinary shares, representing 19.5% of the group’s enlarged issued share capital of 600 million shares, and an offer for sale of 36 million existing shares, representing 6% of the enlarged issued share capital.

The IPO shares are priced at 13 sen per share, raising gross proceeds of approximately RM15.21 million for the group.

From the proceeds from the public issue, RM11.21 million for working capital to supplement property development costs for identified ongoing and future projects, including building and infrastructure works, and RM4 million to meet the estimated expenses incidental to the listing.

M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO.

Lau said Gold Li’s business objectives are to maintain sustainable growth and create long-term shareholder value.

Over the next 24 months, the group plans to further strengthen its market presence as an established property developer primarily in the districts of Muar, Tangkak and Batu Pahat.

“We intend to expand our business through acquiring new landbanks for future projects, primarily located in the districts of Muar, Tangkak and Batu Pahat. We also intend to expand our project portfolio to include the development of high-rise residential properties,“ she said.

Gold Li’s journey started in 1999 with its first property development in Muar, namely Taman Ria, which developed 20 units of single-storey terrace houses.

Over the years, the group has expanded its presence to Tangkak and Batu Pahat.
“Over the past 27 years, we have evolved from a nascent firm into an established developer with a strong track record, where we have completed more than 110 projects,“ Lau said.

According to the Independent Market Research report, the residential property market in Muar, Tangkak, and Batu Pahat has shown resilience, with total value of property transactions in 2025 reaching RM766.34 million, RM314.90 million, and RM881.2 million, respectively.

The report notes that the supply of new properties in these districts is well absorbed, as evidenced by a relatively low overhang of units compared to the national average.
Furthermore, Johor’s gross domestic product (GDP) grew from RM142.73 billion in 2022 to an estimated RM158.02 billion in 2024, while GDP per capita rose at a compound annual growth rate of 7.09% between 2021 and 2024, signalling increased disposable income and local demand for housing.

Lau said the listing on the ACE Market is a strategic tool for the group to raise funds, gain public recognition and tap into the equity capital market for future growth.

Specifically, 73.7% (RM11.21 million) of the funds raised will be used as working capital for property development, including three ongoing projects, namely Taman Permatang Pasir II, Taman Kesang Mawar and Taman Naib Kadir Suria.

The allocation will also be used for one future project, namely Lot 3797 at Mukim Linau, and 26.3% (RM4.0 million) of the funds raised will be allocated to listing expenses.

“This will allow us to grow our project pipeline while reducing reliance on external financing,“ Lau said.

According to the group’s prospectus, Gold Li has 29 parcels of land comprising 17 parcels owned landbank and 12 parcels of land under joint venture development, which are not owned by the group. These joint venture lands are intended for future development purposes, notwithstanding that the group have yet to undertake development planning for these parcels of land.

“We have entered into joint venture agreements with the owners of these 12 parcels of land for joint venture development,“ it said.

The 17 parcels of land owned by Gold Li for future development are in Muar (16.7 acres), with smaller plots in Tangkak (1 acre) and Batu Pahat (1.1 acres). One plot in Muar may be sold, with the company offering to design and build a bungalow based on the buyer’s needs.

As for the group’s 12 joint venture projects on land it does not own, these are located across Muar, Tangkak and Batu Pahat, covering about 28.5 acres in total. These projects will only be reflected in their accounts once development work begins.