Astaka Holdings' (SGX:42S) indirect owned subsidiary, Astaka Padu, agreed to extend definitive agreements with the company's 50.99%-owned indirect subsidiary Astaka Capital, Kii Amber and Seaview Holdings to establish a joint venture to pursue the development of an identified parcel of land in Malaysia into a residential serviced apartment.

Based on the agreement, the companies are going to enter into definitive agreements 60 days after signing the term sheet. The companies have now mutually agreed in writing to extend the expiry date to enter into definitive agreements by Oct. 31.