Last month, I read this article on The Edge, "NCT Alliance gives itself 10 years to reach top 10 spot" and 2 things in the article caught my attention:
1. The company's target to become top 10 property developer in Malaysia
2. White knight developer specialize in reviving abandoned property project in Malaysia.
Then, I started to look into NCT Alliance because I have never heard of this name before.
NCT Alliance is formerly known as Grandflo Berhad, which is involved in 3 sectors, namely IT, construction and property development. In 2019, the current CEO, Datuk Seri Yap Ngan Choy buyout the former management and took over the company in 2019. Over the past 2 years, Datuk Yap and his team have disposed of the IT and construction business to focus solely on the property development sector. In July 2021, the company name was changed to NCT Alliance which completed the full takeover exercise.
From an interview, Datuk Yap said that NCT has actually fit the requirement to go public listed through the conventional IPO way, but they saw the opportunity to takeover Grandflo Berhad and decided to go for it. Currently, there are 2 business entities under Datuk Yap, which are NCT Alliance (Public Listed) and NCT Group (Private Sector).
Now, let's dig deeper into why NCT Alliance pique my interest.