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BCorp said the project is expected to be developed over a period of four years and funded by bank borrowings and internal funds.

The “highly anticipated luxury co-working and event space’s modern and trendy interior” will be “designed, built and managed by Colony with Sunsuria overseeing as a stakeholder”.

“By the year 2030, the sector is expected to achieve digitalisation in at least half of its cycle.

With the tariff hike, it forecast that the steel industry’s annual electricity cost, which is estimated at RM1 billion in 2022, would rise to more than RM1.

The consortium, which accepted a letter of intent from Malaysia Rail Link Sdn Bhd (MRL), will undertake the planning, design, financing, development, construction, installation, completion, commissioning and operation of the project.

The hotel will have 143 rooms consisting of modern rooms, suites and apartments.

DONE DEAL: Bungalow, Taman Ukay, Ampang, Selangor DONE DEAL: Condominium unit, Sunway Palazzio, Taman Sri Hartamas, Kuala Lumpur Situated in the affluent neighbourhood of Sri Hartamas, Sunway Palazzio is a luxurious freehold condominium developed by Sunway City Sdn Bhd.

"As we move forward, our capabilities to cater for higher production volume certainly bodes well with the optimistic backdrop of the expected rising steel consumption driven by the recovery in manufacturing and construction industries.

The intended principal activity of Ibraco KPP Concrete is to operate and sell ready-mix concrete.

“The exercise is also a crucial component of the company’s rebranding initiative to be carried out by its board of directors and key management of the company.