📍 KAJANG, SELANGOR / COMMERCIAL AUCTION
Forced Auction of Country Heights Land in Kajang Cancelled Due to Zero Bidders
In a revealing sign of current market sentiment towards high-priced commercial land, a forced auction of a major land plot in Kajang owned by Country Heights Holdings Bhd has been cancelled due to a complete lack of interested bidders.
ZERO
Number of Bidders
RM69.85M
Previous Reserve Price
Kajang
Plot Location
MBSB
Defaulted Financing Bank
History Repeating Itself in the Mega-Auction Market
According to reports from The Edge Malaysia, the forced auction of Country Heights Holdings Bhd's (CHHB) land in Kajang, Selangor, was abruptly cancelled after no buyers stepped forward. This isn't the first time the market has rejected the valuation of this specific asset. The company had previously attempted to auction off the exact same plot of land in March 2025 for RM69.85 million, which was also unsuccessful [1].
The forced liquidation stems from ongoing financial troubles. The company, through its indirect wholly-owned subsidiary Mines Waterfront Business Park Sdn Bhd, has defaulted on substantial payments with MBSB Bank dating back to August 2023 [1]. Furthermore, CHHB recently posted a net loss of RM6.99 million against a revenue of RM6.53 million for the quarter ending August 31, 2026 [1].
What This Means for Retail Auction Investors
When high-profile commercial and developer-owned plots fail to secure bids, it typically signals a mismatch between the bank's reserve price and the current market's appetite for risk. Institutional buyers and mega-developers are tightly calculating holding costs and development potential. If the numbers do not offer a clear, immediate profit margin, they are willing to let the auction lapse.
For retail investors, this highlights the absolute importance of securing properties at true Below Market Value (BMV) prices. An auction property—no matter how prime the location is—only becomes a profitable investment when the reserve price drops low enough to absorb any hidden arrears, legal fees, and holding costs.
“When large-scale commercial plots receive zero bids at auction, it usually forces the financing bank to reconsider the valuation, often resulting in an automatic 10% reduction in the reserve price for the next public auction round.”
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| Factor | Impact on the Auction Floor |
|---|---|
| Overvalued Reserve Price | If the bank's starting price is too close to the actual market value, buyers have no incentive to take on the risks of buying "as-is-where-is". |
| High Holding Costs | Commercial plots often come with heavy land tax and holding requirements, making developers hesitant without an immediate project plan. |
| The 10% Drop Strategy | Smart institutional buyers often intentionally skip the first few rounds of an auction to force the court/bank to legally lower the price by 10% each time. |
