By Chan Wei Chao (REN 39846), Team Leader, Bricksmen Team · IQI Realty Sdn. Bhd. · Updated 31 October 2026
EXSIM Hospitality Bhd (Bursa: EXSIMHB) has had a busy two months. Between September and October 2026 its fit-out and construction arm won seven new contracts worth about RM106 million in total, its controlling shareholder sold 30 million shares, and the company published its 2026 annual report ahead of its AGM on 23 December.
EXSIM Hospitality is controlled by the Lim brothers (Lim Aik Fu, Lim Aik Kiat and Lim Aik Hoe), who are also behind the EXSIM property group. In Penang, EXSIM is the developer of The Lighthauz and Keeperz Suites at The Light Waterfront in Gelugor.
Timeline of announcements
| Date | Announcement |
|---|---|
| 30 Oct 2026 | Published its 2026 Annual Report and Corporate Governance Report, and a circular asking shareholders to renew the mandate for recurrent related party transactions |
| 29 Oct 2026 | Notice of the 43rd AGM; additional listing of 283,000 new shares from the exercise of Warrants A at RM0.23 each |
| 22 Oct 2026 | RM13.49 million carpentry sub-contract from Binastra Builders |
| 16 Oct 2026 | Controlling shareholder EXSIM Hospitality Holdings Sdn Bhd disclosed the sale of 30 million shares on 14 October |
| 8 Oct 2026 | RM15.62 million sub-contract from Nestcon Builders |
| 30 Sep 2026 | Three sub-contracts from Taghill Projects worth about RM27 million in total |
| 14 Sep 2026 | RM42.48 million nominated sub-contract from Taghill Projects |
| 1 Sep 2026 | RM7.35 million contract from related company Lim Legacy Properties for a temporary sales gallery |
New contracts: about RM106 million in two months
All the contracts went to EXSIM Concepto Sdn Bhd, the group’s wholly owned fit-out and contracting subsidiary.
| Awarded by | Value | Scope | Timeline |
|---|---|---|---|
| Taghill Projects | RM42.48 million | Building services and general building works (nominated sub-contract) | 15 Sep 2026 – 15 Sep 2028 |
| Taghill Projects | About RM27 million (three contracts) | Reinforced concrete works in Bandar Sri Damansara (RM12.96 million) and Kuantan (RM8.64 million); aluminium and glazing works in Taman Tiara Titiwangsa, KL (RM5.4 million) | From 1 Oct 2026; due between 31 Dec 2026 and 4 Jan 2027 |
| Nestcon Builders | RM15.62 million | Building services and general building works | 8 Oct 2026 – 31 Oct 2028 |
| Binastra Builders | RM13.49 million | Supply, fabrication and installation of carpentry works for typical residential units | Follows the main contract, due to complete on 8 Jun 2028 |
| Lim Legacy Properties (related party) | RM7.35 million | Two-storey temporary sales gallery on Jalan Klang Lama, Kuala Lumpur | 7 Sep 2026 – 6 Mar 2027 |
The Lim Legacy Properties job is a recurrent related party transaction, because the Lim brothers also own Lim Legacy Properties through EXSIM Development. The company said none of its directors or major shareholders has an interest in the Taghill, Nestcon or Binastra contracts.
Controlling shareholder sells 30 million shares
On 14 October 2026, EXSIM Hospitality Holdings Sdn Bhd sold 30 million shares through a direct business transaction. It still holds 1,584,868,200 shares, or about 68.13% of the company, so control does not change. The price was not disclosed.
Annual report and AGM
- Annual report: the 2026 Annual Report and Corporate Governance Report were filed on 30 October.
- AGM: the 43rd AGM is on 23 December 2026 at 3pm at Portrait Hotel, Empire City, Petaling Jaya. Shareholders on the record of depositors on 16 December can attend.
- Resolutions: directors’ fees and benefits, re-election of two directors, re-appointment of Crowe Malaysia as auditor, authority to issue shares, and renewal of the related party transaction mandate. There is no special business.
The 29 October additional listing was for 283,000 new shares from the exercise of warrants, which brings the total to 2,326,672,727 shares. Despite the “subdivision of shares” label on Bursa’s announcement form, it is not a share split.
How the business has grown
For the financial year ended 30 June 2026, EXSIM Hospitality reported net profit of RM40.75 million, up 126%, on revenue of RM281.23 million, up 91.9%. Its order book stood at RM495.09 million at the end of June, before the new contracts above. Its hospitality management arm, Mana Mana Hospitality, had 3,838 signed units, of which 2,006 were operating, and it has expanded into Penang.
What it means for Penang buyers
For buyers looking at EXSIM’s Penang projects, the group’s growing contracting and hospitality businesses are worth knowing about. EXSIM Hospitality does fit-out work, and through Mana Mana it manages short-stay units for owners. That matters if you are thinking of buying a unit to rent out.
Before you buy for Airbnb, check the title and the building rules. On Penang Island, short-term rentals are not allowed in residential-title condominiums. Read our guide to Penang short-term rental rules and fees.
EXSIM projects in Penang
| Project | Area | Type | Indicative price | Completion |
|---|---|---|---|---|
| The Lighthauz | Gelugor · The Light Waterfront | Condominium, 732 and 1,001 sq ft | From RM864,500 | September 2030 |
| Keeperz Suites | Gelugor · The Light Waterfront | Serviced suite, 484 sq ft studio and 581 sq ft dual-key | From RM820,100 | Q2 2030 |
Frequently asked questions
What contracts did EXSIM Hospitality win in September and October 2026?
Seven contracts worth about RM106 million: RM42.48 million and about RM27 million from Taghill Projects, RM15.62 million from Nestcon Builders, RM13.49 million from Binastra Builders, and RM7.35 million from related company Lim Legacy Properties.
Did EXSIM Hospitality’s major shareholder sell shares?
Yes. EXSIM Hospitality Holdings sold 30 million shares on 14 October 2026 and still holds about 68.13%.
Is EXSIM Hospitality doing a share split?
No. The 29 October announcement was an additional listing of 283,000 shares from warrant exercises.
When is the AGM?
23 December 2026, 3pm, at Portrait Hotel, Empire City, Petaling Jaya.
Interested in The Lighthauz or Keeperz Suites?
I can send the latest price lists and unit availability for EXSIM’s Penang projects. WhatsApp or call +60 10-313 9113.
Sources
- The Star: Exsim Hospitality secures RM13.49mil contract
- Minichart: EXSIM Hospitality Holdings trims stake with 30 million share disposal
- Business Today: EXSIM Hospitality unit secures RM42 million subcontract from Taghill
- The Star: Exsim Hospitality secures RM27mil subcontract jobs
- EdgeProp: Exsim Hospitality unit gets RM7.35m related-party contract
- EdgeProp: Exsim Hospitality’s full-year profit doubles
- Bursa Malaysia announcements for EXSIMHB (via KLSE Screener)
This article is general information based on Bursa Malaysia filings and published reports as of 31 October 2026. It is not investment advice or a recommendation to buy or sell shares. Project prices are indicative and depend on availability.