Last updated on August 23, 2025
KUALA LUMPUR (Aug 11): Gold Li Holdings Bhd, a Johor-based property developer with 26 years of experience in landed residential projects, has filed a draft prospectus for an initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The IPO proceeds will be used to finance five upcoming developments in Johor with a combined gross development value (GDV) of RM58.23 million. Four of these — Taman Desa Baiduri, Mukim Linau, Taman Naib Kadir Suria, and Taman Permatang Pasir II — are joint venture projects expected to generate gross profit margins between 24.4% and 30.5%.
“These projects have been earmarked for funding from the public issue proceeds as their anticipated start dates align with the expected receipt of funds from our listing,” the company stated in its draft prospectus.
Under the joint venture arrangements, Gold Li will manage project planning, secure approvals, and oversee construction through to completion. The company emphasised that none of the landowners involved are related parties.
According to the filing, the IPO will consist of a public issue of 117 million new shares — representing 19.5% of the enlarged share capital — and an offer for sale of 36 million existing shares, with the price to be determined later. Proceeds from the offer for sale, conducted via private placement, will go entirely to selling shareholders — managing director Datuk Lee Tiau Huat and chief operating officer Datin Lau Siew Su, who is also his spouse.
Following the listing, their combined stake will be diluted to 73.3%, mainly through their investment vehicle, Setia Mega Sdn Bhd, which will retain a 66.3% interest. They currently own 98.5% of the company directly.
Of the 117 million new shares, 30 million will be offered to the Malaysian public, six million to eligible persons, 42 million to selected investors, and 39 million via private placement to Bumiputera investors. The offer for sale will be placed privately to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti).
As at July 1, 2025, Gold Li has completed 108 projects, with nine ongoing and 31 in the pipeline carrying a total GDV of RM400.4 million. The group also holds 32 parcels of land covering 55.8 acres earmarked for future development, primarily in Muar, Tangkak, and Batu Pahat.
For the financial year ended Jan 31, 2025 (FY2025), the company posted a net profit of RM7.84 million on revenue of RM65.03 million, achieving a gross profit margin of 26.5% and a net margin of 12.1%.
