Pekat gets Main Market nod, buys 9.4 acres in Nilai
- The Securities Commission approved Pekat Group's move from the ACE Market to the Main Market on 3 November 2026.
- Its 60% unit EPE Switchgear is buying six freehold industrial lots of 9.4 acres in Bandar Hamilton Nilai from Sime Darby Property for RM30.58 million.
- That is about RM74.54 psf after rebates, with roads and utilities to be delivered within 48 months (our calculation).
- The land will hold EPE's switchgear factory and Pekat's battery storage, transformer and substation businesses.
When did the SC approve Pekat's transfer to the Main Market?
On 3 November 2026. A transfer date has not been announced.
What land is Pekat buying in Nilai?
Six adjoining freehold industrial lots, PT 52152 to PT 52157 in Mukim Labu, Seremban, in Bandar Hamilton Nilai Plot 5: 38,108 sq m for RM30.58 million after rebates.
What price per square foot did Pekat pay for the Nilai land?
About RM74.54 psf after rebates, or about RM80 psf on the RM32.82 million list price (our calculation).
Pekat Group Bhd won the Securities Commission's approval on 3 November 2026 to move its listing from the ACE Market to the Main Market of Bursa Malaysia. Days earlier, its switchgear unit agreed to buy 9.4 acres of freehold industrial land in Bandar Hamilton Nilai, Negeri Sembilan, for RM30.58 million.
The land
- Buyer: EPE Switchgear (M) Sdn Bhd, 60% owned by Pekat through Apex Power Industry Sdn Bhd
- Seller: Sime Darby Property (Nilai) Sdn Bhd
- Site: six adjoining lots, PT 52152 to PT 52157 (IND 07 to IND 12), Mukim Labu, Seremban, in Plot 5 of Bandar Hamilton Nilai, 38,108 sq m in all. The land is vacant; Sime Darby Property will first build the earthworks, drains, water and sewer mains, telecom ducts and access roads
- Price: RM32.82 million listed, including that infrastructure, less RM2.25 million of rebates (3% early bird, 2% bulk purchase and 2% early signing). That is about RM80 psf before rebates and RM74.54 psf after (our calculation)
- Timing: handover within 48 months. EPE must start building within 36 months after that, or Sime Darby Property can buy the land back at 90% of what EPE paid, and it cannot sell the land before then
- Why: EPE's present premises in Nilai are too small. The site will house its switchgear factory and Pekat's battery storage, transformer and substation businesses
- Funding: internal funds and/or bank loans
Nearby, AME Elite is building Baltimore Aircoil's new plant on PT 51885 to PT 51888, also in Mukim Labu (our story).
The Main Market move
- Approval: the SC approved the transfer under the Capital Markets and Services Act and noted Pekat had met the Bumiputera equity requirement of its ACE listing. A transfer date has not been announced
- Size: listed on the ACE Market on 23 June 2021; worth about RM2.06 billion at its five-day average price of RM2.898 up to 30 October
- Results: revenue of RM609.5 million and profit of RM49.1 million in 2025; RM343.3 million and RM29.6 million in the first half of 2026
- Businesses: solar installation, earthing and lightning protection (mostly for data centres), electrical trading and switchgear, through EPE, bought in December 2024. In September a unit leased 470 acres in Sungai Petani for a solar farm
- Bursa Malaysia — Pekat: acquisition of six freehold industrial lots in Mukim Labu, Seremban, by EPE Switchgear from Sime Darby Property (Nilai) (2 Nov 2026)
- Bursa Malaysia — Pekat: SC approval of the proposed transfer from the ACE Market to the Main Market (3 Nov 2026)
- EdgeProp — Pekat to acquire Nilai industrial land for RM30.58m (3 Nov 2026)
Facts summarised in our own words, with our own analysis added.
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