Our Story
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In 1985, Dato’ Sri Yap Ngan Choy founded NCT. The company quickly cemented its position as a leader in the supply and installation of tiles for property projects with a special emphasis on the production of high quality, value-added craftsmanship and service. By 1997, NCT Tiling had established itself as the biggest tiling company in Malaysia. The company’s reputation for quality products and timely delivery resulted in various business deals with prominent developers.


From the year 2000 onwards, NCT ventured into construction, real estate and building materials trading with the establishment of NCT Building & Civil Engineering Sdn Bhd. In the span of 30 years, NCT Building & Civil Engineering has completed more than RM 10 billion worth of contracts. NCT gained a positive reputation as a White Knight developer with the completion of the abandoned La Cottage project in Sepang and also with the construction, rectification and completion of work for a major property developer’s housing development.


Throughout the years, NCT continued to establish a reputation for being a project rehabilitation specialist. In 2012, NCT was entrusted by the Malaysian government to restore Bandar Salak Tinggi, the country’s biggest recovery project to date. NCT successfully rehabilitated the project within three short years and delivered an outstanding number of double-storey houses, 2-1/2-storey terrace houses and medium-cost apartments.


Another proud accomplishment for NCT as a renowned White Knight developer came in 2013 when the company was entrusted to rehabilitate Pahang’s biggest abandoned project – Billion Court. The geographical challenges present was not an easy feat, yet the Company once again successfully rehabilitated the project and aid in creating a new and exciting tourist destination in Genting Highlands.


Dato’ Sri Yap Ngan Choy and Dato’ Joe Yap Fook Choy saw the potential in Grand-Flo Berhad, an IT-related company with a hand in property development. An acquisition was started and the take-over was completed by 2019. With the brothers at the steering wheel, the company performed best in its property section, prompting a new direction for the Group.


As Grand-Flo seeks to realign its business focus, 100% equity stake in Grand-Flo (HK) Limited were disposed for a total cash consideration of RM 3.46 million. The reprioritizing on property also saw the disposal of 80% and 20% equity stakes in Grand-Flo Spiritvest Sdn Bhd to Radiant Globaltech Berhad and Jejaka 7 Capital Sdn Bhd for RM 11.60 million and RM 2.90 million, respectively. With this, Grand-Flo had fully disposed off its business relating to the enterprise data collection and collation system solutions (EDCCS).


Grand-Flo identified three key corporate exercises to solidify the Group’s position in the Property Development sector. These are segmented to Proposed Acquisitions, Proposed Private Placement and Proposed Name Change. Proposed Acquisitions comprise of two acquisitions, namely the land and project development rights of an on-going mixed development project known as the Grand Ion Majestic (GIM), as well as the serviced apartments and commercial retail lots of a completed mixed development project known as Grand Ion Delemen (GID). Both projects are located next to each other and are within close proximity of the well-established Resorts World Genting in Genting Highlands. Additionally, the GID serviced apartments will be acquired by GFB at a bulk discount of 15%; whilst the retail lots shall be rented back to the vendor, Galeri Tropika Sdn Bhd (GTSB) for a 5-year guaranteed rental yield of 7% per annum, creating a stable recurrent income and cash flow stream for the Group. The total purchase consideration for the Proposed Acquisitions amounts to RM422.9 million, which will be satisfied by cash, assumption of liabilities and issuance of redeemable convertible unsecured loan stocks (RCULS) in tranches to GTSB. In addition, GFB aims to undertake private placement exercises to raise over RM75 million to fund its current and upcoming property development projects. Further to this, the Group has also proposed a name change from GFB to NCT Alliance Berhad.