GSH Corporation Limited announced that its wholly owned unit, GSH Properties Pte. Ltd. (GPPL), signed a non-binding framework cooperation agreement on Oct, 8 2025 with Fujian Jinnan Construction Group Co., Ltd. to explore a share subscription in Peninsular Holdings Pte. Ltd. (PPH).

Under the proposed terms, Fujian Jinnan or its nominee may subscribe for new PPH shares for between 120 million Singapore dollars and 210 million Singapore dollars, giving it an effective 20 %-35 % interest in Aspirasi Kukuh Sdn. Bhd., which holds the land parcel at Jalan Kinabalu in Kuala Lumpur’s Chinatown district.

Both parties have agreed on a 50-business-day exclusivity period to negotiate and sign definitive agreements. GSH said the cooperation could bring construction and sales expertise to the project and help unlock the land’s value, adding that the framework pact has no material impact on its current-year earnings or net tangible assets.

The company cautioned shareholders that the proposed subscription remains subject to definitive agreements and requisite approvals.