Rapid Synergy Divests Teluk Intan Mall to Lotuss for RM41 Million

KUALA LUMPUR (Nov 7, 2025) — Rapid Synergy Bhd (KL:RAPID) has announced the sale of its Teluk Intan commercial property, Rapid Mall Seri Intan & Giant, to Lotuss Stores (Malaysia) Sdn Bhd for RM41 million. The transaction marks a strategic move to unlock asset value and strengthen the group’s balance sheet.

According to a filing with Bursa Malaysia, the sale will be executed through Rapid Synergy’s subsidiary via a sale and purchase agreement (SPA) with Lotuss for the leasehold land and buildings located along Jalan Changkat Jong, Teluk Intan, Perak.

The property, a well-known retail landmark in the region, has been partially tenanted by Lotuss since June 2020, under a tenancy agreement signed in 2019, occupying the ground and first floors of the mall except for several smaller lots. Other sections of the building are also leased to multiple tenants.

Unlocking Asset Value and Strengthening Liquidity

Rapid Synergy said the proposed disposal would enable the company to realise the appreciating value of the asset, while generating fresh cash flow to support working capital and loan repayment.

“The disposal allows the group to unlock long-held asset value and strengthen financial flexibility for future business operations,” the company said in its announcement.

From the RM41 million in proceeds, RM25 million will be used to redeem an existing bank loan within three months of the SPA becoming unconditional. Another RM14.66 million will go toward salaries, operational expenses, and business purposes, while the balance will cover real property gains tax, legal fees, quit rent, assessment, and disbursement costs.

The disposal is expected to be completed within six months. The property will be sold free from encumbrances, except for existing Lotuss tenancies, and will be handed over with vacant possession for the unoccupied portions, on an “as is where is” basis.

Market Context and Strategic Implications

The sale reflects a broader trend among Malaysian property owners and REITs to recycle capital from mature retail assets and refocus on higher-yield developments in urban and industrial corridors such as Selangor and Kuala Lumpur.

For Rapid Synergy, the divestment frees up liquidity for potential reinvestments in sectors showing stronger growth, such as industrial land in Selangor or commercial redevelopment opportunities in KL.

Meanwhile, Lotuss Stores, which has been expanding its presence in Malaysia’s suburban retail markets, strengthens its footprint in Perak through this acquisition — adding another strategic asset to its growing retail portfolio.

Stable Market Performance

Following the announcement, Rapid Synergy shares rose 1.5 sen, or 2.6%, to close at 59 sen on Friday, giving the company a market capitalisation of RM63.1 million.

The sale underscores a steady recovery in Malaysia’s commercial property market, driven by renewed interest from both local investors and foreign retail operators. Analysts expect the liquidity generated from such disposals to flow into emerging industrial and logistics hubs, particularly around Puchong, Subang, and Bukit Jalil, where new developments continue to attract strong investor demand.