Tiger Synergy undertakes RM22m property project in Klang

KUALA LUMPUR (June 12): Tiger Synergy Bhd is to undertake a RM22.3 million mixed development property in Sungei Kandis, Klang.

Comprising either a residential or commercial development, the project will be carried out on a joint-venture basis with the group’s wholly-owned units, Pembinaan Terasia Sdn Bhd and Harapan Handal Sdn Bhd.

In a filing with Bursa Malaysia, Tiger Synergy said the two subsidiaries inked a joint-venture agreement today under which Tiger Synergy said Harapan Handal will contribute to the development land.

Pembinaan Terasia, meanwhile, will bear the entire cost and expense of developing the land, which will take around three years to complete.

“The proposed joint-venture will enable Tiger Synergy to participate and benefit from the business venture and is expected to contribute positively to the future profitability and the cash flow of Tiger Synergy as well as the stability of its future income stream,” the group said.

Listed on the Main Market, Tiger Synergy’s share price slipped 0.5 sen or 4.55% to close at 10.5 sen, for a market capitalisation of RM46.39 million. — theedgemarkets.com

For more stories, download EdgeProp.my pullout here for free.