IOI Properties Group Bhd has not yet put its Singapore deals in front of the board. The clarification came after a Bloomberg report on Thursday quoted CEO Datuk Lee Yeow Seng saying the developer was in exclusive talks for two Singapore assets.
How Far Along Are the IOI Properties Singapore Acquisitions?
The group said it routinely evaluates acquisition opportunities as part of its long-term growth strategy. It then stated: “At this stage, none of the potential acquisitions referred to in these articles has been formally reviewed by the investment committee or tabled for the board’s approval.”
The filing adds that “any material developments will be announced in accordance with the relevant disclosure obligations, upon the execution of any definitive agreement.” Until a definitive agreement is signed, there is no transaction to disclose.
Which Singapore Assets Is IOI Properties Chasing?
What Is the Capitol Kempinski Hotel Worth?
Singaporean developer Perennial Holdings has been trying to sell the Kempinski hotel, priced at S$600 million (RM1.91 billion), Bloomberg reported on Thursday.
What Is Chijmes Valued At?
Chijmes was valued at S$379 million at the end of 2025. It is a retail venue, which differs from the office assets IOI Properties already holds in Singapore.
Lee did not disclose how much a final agreement will value the two assets, citing ongoing negotiations.
How Big Is IOI Properties’ Singapore Office Portfolio Already?
The group already owns about S$12 billion in prime Singapore office space. It is expanding quickly, with the purchase of Shenton House and a potential 50% stake in One Raffles Place both announced within a fortnight.
Related reporting says the group agreed to buy Shenton House from its group CEO for S$1 and settle a S$217m advance. Its Singapore expansion also includes a potential 50% stake in One Raffles Place.
When Will IOI Properties’ REIT List on Bursa Malaysia?
IOI Properties is set to list a real estate investment trust on the Main Market of Bursa Malaysia by the end of the year. The group is also eyeing a secondary listing on the Singapore stock exchange.
As of May 31, IOIPG Malaysia Real Estate Investment Trust managed a nine-asset portfolio valued at RM7.66 billion.
What Does IOI Properties’ Debt Load Mean for Shareholders?
Total borrowings stood at RM25.45 billion against RM2.1 billion of cash equivalents for the quarter ended June 30, 2026. That leaves net borrowings of about RM23.35 billion before any Singapore purchase.
Because the final values are undisclosed, the Singapore deals cannot yet be measured against that gap. Readers who want a framework for checking filings like this can start with AI Stock Analysis for Malaysians.
Where Did IOI Properties Shares Close on Friday?
IOI Prop shares closed 8 sen or 2.47% lower at RM3.16, valuing the group at RM17.4 billion.
Lee holds a deemed interest of 66%, or over 3.8 billion shares. That comprises a direct interest of 215 million shares (3.904%) and an indirect interest of 3.62 billion shares (65.673%) held via Vertical Capacity Sdn Bhd.
Key Takeaways
- The board has not deliberated on the Chijmes or Capitol Kempinski deals, and no definitive agreement exists yet.
- The Kempinski hotel is priced at S$600 million (RM1.91 billion), while Chijmes was valued at S$379 million at the end of 2025.
- Borrowings of RM25.45 billion sat against RM2.1 billion of cash equivalents for the quarter ended June 30, 2026.
- Shares closed at RM3.16, valuing the group at RM17.4 billion. The Singapore deals and the REIT listing are worth monitoring on KL:IOIPG.
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Disclaimer: This article is for information only and does not constitute investment advice. Do your own research before making any decision on IOI Properties Group Bhd (KL:IOIPG).
Frequently Asked Questions
Has IOI Properties agreed to buy Chijmes or the Kempinski hotel?
Not yet. IOI Properties said in a bourse filing on Friday that none of the potential acquisitions has been formally reviewed by the investment committee or tabled for board approval. Any material development will be announced once a definitive agreement is executed.
How much is the Capitol Kempinski hotel worth?
Perennial Holdings has been trying to sell the Kempinski hotel, priced at S$600 million (RM1.91 billion), according to Bloomberg. CEO Datuk Lee Yeow Seng did not say what a final agreement would value the assets at.
What is IOI Properties’ share price and market value?
IOI Prop closed 8 sen or 2.47% lower at RM3.16 on Friday, valuing the group at RM17.4 billion. The shares are listed on Bursa Malaysia under KL:IOIPG.
Is IOI Properties listing a REIT on Bursa Malaysia?
IOI Properties is set to list a real estate investment trust on the Main Market of Bursa Malaysia by the end of the year. Its existing IOIPG Malaysia Real Estate Investment Trust managed a nine-asset portfolio valued at RM7.66 billion as of May 31.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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