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MCT Bhd

MCT Bhd was successfully listed on the Main Market of Bursa Malaysia Securities Berhad on 6 April 2015, following the completion of the reverse takeover exercise (RTO) of GW Plastics Holdings Berhad (GW Plastics) through the acquisition of MCT Consortium Berhad (MCT Consortium).

 

About MCT Consortium Berhad

MCT Consortium was founded by Tan Sri Dato’ Sri (Barry) Goh Ming Choon and Dato’ Sri Tong Seech Wi. The company began operations in 1999 as Modular Construction Technology Sdn Bhd, a builder specialising in undertaking construction, civil engineering and mechanical and electrical works through the modular construction technique.

MCT Consortium subsequently ventured into property development in 2004 with the development of USJ One Avenue, a 448-unit condominium project. Modular Construction Technology Sdn Bhd commenced its operations in 1999 with a paid-up capital of only RM250,000, and its revised net asset value has since increased tremendously to RM1.33 billion currently under MCT Bhd.

MCT Consortium is today an integrated property developer supported by in-house capabilities including development planning, architectural and engineering design, quantity surveying and procurement, interior design, project management and construction.

It has successfully completed projects with a total gross development value (GDV) of RM1.08 billion to-date, and is currently developing on-going projects with a total GDV of RM2.264 billion.

Its pipeline of projects to be launched in the future totalled an estimated RM6.723 billion. This excludes remaining landbank of 296 acres with its GDV yet to be finalised. MCT Consortium’s existing landbank is located within Greater KL in USJ (Petaling Jaya), and within Cyberjaya and its surrounding area.

 

The RTO Exercise in 2014

GW Plastics is listed on the Main Market of Bursa Securities as a company previously involved in the manufacturing and marketing of blown and cast plastic film packaging products through its subsidiaries. Such subsidiaries were disposed on 8 January 2013.

The company had in January 2014 signed a share sale agreement with the Vendors for the proposed acquisition of the entire 100% of the issued and paid-up share capital of MCT Consortium.

The acquisition will be satisfied via the issuance of approximately 1.032 billion new GW Plastics shares of RM1.00 each and approximately RM122.2 million irredeemable convertible unsecured loan stocks at 100% of their nominal value, which will result in a significant change in the business direction of GW Plastics, and the eventual reverse takeover (RTO) of GW Plastics by MCT Consortium.

Upon the completion of the regularisation plan, GW Plastics changed its name to MCT Bhd.

 

Completed/past developments:

  • USJ One Avenue
  • 162 Residency, Selayang
  • Garden Shoppe @ One City
  • The Place @ One City
  • Sky Park @ One City
  • eCity Hotel @ One City
  • The Place @ Cyberjaya

 

Ongoing/future developments in Klang Valley:

  • V-Residensi @ Selayang Heights
  • V-Residensi 2 @ Shah Alam
  • The Square @ One City
  • Sky Park @ Cyberjaya
  • LakeFront Villa @ LakeFront Cyberjaya
  • LakeFront Residence (Acorus and Brasenia) @ LakeFront Cyberjaya
  • LakeFront Residence (Tower 3) @ LakeFront Cyberjaya
  • Cybersouth - GreenCasa
  • Reo Suite @ One City

 

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