Sunway through its wholly-owned unit Sunway City Sdn Bhd (SunCity) is buying over the stake from IASB, which is a wholly owned unit of Iskandar Investment Bhd — which is in turn 60% held by Khazanah Nasional Bhd — for RM770,450.
The land is directly next to the LATAR Expressway or Kuala Lumpur-Kuala Selangor Expressway, and within one-hour reach to both KLIA and Port Klang.
DONE DEAL: Apartment, Seringin Residences, Kuala Lumpur DONE DEAL: Office unit, Desa Aman, Kuala Lumpur Sunway Velocity is a well-known mixed development surrounded by amenities, including a shopping mall, residential area, commercial offices, and retail units.
“He has more than 30 years of experience in the oil and gas (O&G) industry with Shell, Petronas and Sapura Energy in various technical, commercial, and leadership positions covering upstream regulatory functions, exploration and production, refinery, gas and liquified natural gas (LNG), downstream marketing commercial functions, and integrated service company with national, regional and global coverage.
The project, which includes upgrades to the existing road networks, as well as the rehabilitation of the 15-acre Sunway Serene Lake, was done in tandem with its planning for the 17-acre Sunway Serene development.
SunCon said the project is expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2023 onwards.
Chen joined Sunway Group as a finance trainee in 2004 and attained his Institute of Chartered Accountants in England and Wales qualification in 2007.
The metrics include the total renewable energy in MWh generated by all solar photovoltaic systems in the REIT’s properties, and the weighted average building energy intensity measured in kWh per square metre of the building’s gross floor area per year.
Connected to the Sunway Medical Centre, Sunway Sanctuary sits atop Tower D of Sunway Medical Centre from Level 15 to 30.
On Thursday (May 25), YNH Property received a second query from Bursa Securities related to the land deal, and was required to provide its response within 24 hours.
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