SHL eyes Myanmar affordable housing market

KUALA LUMPUR (Aug 24): SHL Consolidated Bhd's joint venture (JV) with Japan-based Marubeni Corp is looking at tapping into Myanmar's affordable housing market, in line with their business venture across the Association of Southeast Asian Nations (Asean) region.

SHL executive director Datuk Seri Yap Chong Lee said the JV planned to leverage areas where Marubeni had a strong presence in. Yap said Myanmar is a potential starting point as Marubeni was already involved in industrial projects there.

"They [Marubeni] are looking at Myanmar," Yap told reporters after SHL's annual general meeting here today.

He said Marubeni was eyeing Myanmar's housing market, and that it "has to be" affordable housing under the build-then-sell system.

In Malaysia, Yap hinted that SHL was looking for land in the Klang Valley, Penang and Melaka for property development.

He did not elaborate. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.