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HexTech, Widad Cancel Proposed Disposal of Industrial Land in Nilai
🇲🇾 Malaysia /Technology

HexTech, Widad Cancel Proposed Disposal of Industrial Land in Nilai

From Utusan Malaysia · () Malay

Translated from Malay, summarized and contextualized by DistantNews.

At a glance

News Official statement Context piece
  • HexTech and Widad Development have mutually terminated their proposed deal to dispose of four industrial land lots in Nilai, Negeri Sembilan.
  • The companies agreed on June 16, 2026, to cease all further negotiations and discussions regarding the disposal.
  • The termination is not expected to have a material impact on HexTech's financial standing for the fiscal year ending March 31, 2027.

Hextar Technologies Solutions Berhad (HexTech) and Widad Development (Nilai) Sdn. Bhd. have called off a proposed transaction involving the disposal of four freehold industrial land lots in Nilai, Negeri Sembilan. The companies announced a mutual agreement on June 16, 2026, to halt all ongoing negotiations and discussions concerning the land disposal.

HexTech, through its wholly-owned subsidiary Guper Bonded Warehouse Sdn. Bhd., and Widad Development, a subsidiary of Widad Group Berhad, had previously entered into a Heads of Terms (HOA) and Sale and Purchase Agreement (SPA) for the adjacent vacant industrial lots in September 2024.

Following the termination, both parties have confirmed they hold no further claims against each other regarding the abandoned transaction. HexTech stated that this termination is not anticipated to have any significant material impact on the group's issued and paid-up share capital, major shareholders' equity, earnings, or net assets for the financial year concluding March 31, 2027.

DistantNews Editorial

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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