The JV company, according to UEM Sunrise, was tasked to develop the portion of the public marina that has yet to be developed, the private marina and the mega yacht marina, and to operate the public marina, the private marina and the mega yacht marina.
The AEI mainly involves the upgrading and refurbishment of the whole warehouse floor slab and the whole warehouse roof; the replacement of the lighting system for the whole warehouse; the replacement of the rain water goods; external wall and facade repainting; and sheet piling works at the rear boundary of the property.
LTKM expects the disposal to give rise to an estimated loss of RM767,200 after taking into account estimated expenses and tax expense.
EcoWorld has two major upcoming projects in FY16, namely the 19.4-acre Bukit Bintang City Centre (BBCC) project next to the major shopping district in Kuala Lumpur worth RM8.8 billion and the 300-acre Eco Marina township in Batu Kawan, Penang, valued at RM10 billion.
Despite concerns over the rising number of vacant units and shrinking crowds in shopping malls, the current slowdown will not exact a heavy toll on Sunway Real Estate Investment Trust, whose main asset is Sunway Pyramid and Sunway Hotel in Bandar Sunway.