NexG Berhad has announced the acquisition of a 32.61 per cent stake and more than 414 million Warrants C in Classita Holdings Berhad for RM76.78 million, marking a bold move into Malaysia’s construction and property development sector. The investment makes NexG the largest shareholder in Classita, a CIDB G7-certified contractor with a growing portfolio of infrastructure and housing projects.
The acquisition is part of NexG’s broader diversification strategy and aligns closely with Malaysia’s MADANI Economic Framework and 13th Malaysia Plan (RMK13), both of which emphasise public-private collaboration in nation-building initiatives.
“We are excited to announce this strategic acquisition, which forms part of our broader strategy to support government initiatives and to contribute directly to nation-building efforts under the MADANI Economic Framework,” said Datuk Hanifah Noordin, executive chairman and chief executive officer of NexG Berhad.
He added that expanding into construction and property was both “strategic and timely”, enabling the group to “play a more active and visible role in Malaysia’s national development” by leveraging its financial strength, institutional networks, and track record in mission-critical government projects.
NexG’s investee, Classita, is also seeking shareholder approval to rebrand as NexG Bina Berhad – a move that reflects its renewed focus on government-linked infrastructure, affordable housing, and long-term development.
Among its key initiatives is a strategic collaboration with Lion Pacific Sdn Bhd to bid for the MRT3 System Project. Classita is expected to take on the SY303 package involving the supply, testing, and commissioning of electric trains, should the consortium’s bid be successful. This would mark Classita’s formal entry into high-value public transport engineering.
At the same time, the company is advancing a Perumahan Penjawat Awam Malaysia (PPAM) project on its Ulu Kelang land, delivering affordable homes for civil servants in support of national housing goals. Its landbank in Bentong, Tapah and Kinta offers additional platforms for scaled development.
“We view Classita as a strong fit for this ambition, given its credentials and readiness to participate in government-linked projects,” said Datuk Hanifah.
As of 31 March 2025, Classita reported cash reserves of RM74.5 million, net assets of RM190.9 million, and a low gearing ratio of just 0.03 – indicators of a firm well-positioned for capital-intensive growth.
“In addition to the purchase of a 32.61 per cent stake… we are acquiring a substantial number of Classita Warrants C,” said Datuk Hanifah. “This is a strategic move that provides us with the flexibility to increase our stake over time, and benefit from Classita’s long-term value creation.”
He added that the combination of Classita’s landbank and institutional readiness, together with NexG’s capital and governance capabilities, would allow the group to help drive Malaysia’s infrastructure and housing transformation.
The investment also comes at a time when Malaysia’s public infrastructure pipeline is expanding. According to the Malaysia Construction Industry Report 2025, over 1,000 government-linked projects worth RM58.8 billion are currently in progress, reinforcing estimates of an annual RM60-70 billion opportunity in the public sector.
While NexG’s focus remains domestic, the firm is monitoring regional trends across ASEAN, where similar infrastructure demands are rising. 