Deep Source Holdings Limited announced that its wholly owned subsidiary, Deep Source (PN) Sdn Bhd, signed a conditional sale-and-purchase agreement on 18 October 2026 to acquire Lot 115524, Bandar Gebeng, Pahang, Malaysia, for RM417.49 million (HK$801.58 million). The 176.3-hectare parcel—equivalent to about 18.98 million sq ft—lies within Zone 2 of the Malaysia-China Kuantan Industrial Park and is earmarked for phased development of artificial-intelligence (AI) data-centre facilities, associated power infrastructure and ancillary buildings.

Payment terms comprise: 1) an initial earnest deposit of RM1.69 million already paid; 2) RM40.06 million within five business days of signing; 3) RM41.75 million upon Section 433B approval from the Pahang State Authority; 4) another RM41.75 million once state consent for land transfer is obtained; 5) RM125.25 million following written notice of early site access; and 6) a final RM166.99 million on or before completion, which must occur within three months of the transaction becoming unconditional, extendable by one month. Funding will be sourced from internal resources.

Beibu Gulf Holding (Malaysia) Sdn. Bhd. has issued a non-binding undertaking to reserve 120 MW of electricity capacity for the project, subject to a definitive power-supply agreement. Deep Source also plans to apply for a power-generation licence to support potential future expansion.

This acquisition is separate from the company’s previously disclosed 67 MW colocation data-centre project in Malaysia and forms part of Deep Source’s strategy to broaden its regional digital-infrastructure footprint. Management intends to explore collaboration with strategic investors and technology partners for additional AI-related and semiconductor activities on the site, subject to further approvals and commercial viability.

Under Hong Kong’s Listing Rules, the transaction qualifies as a discloseable transaction, with all percentage ratios exceeding 5 % but below 25 %. Completion remains contingent upon multiple regulatory approvals, including land-transfer consent and Data Centre Task Force (DCTF) authorisation. Shareholders are advised that the acquisition may or may not proceed if conditions precedent are not met.