Valiram family to acquire Lendlease stakes in The Exchange TRX mall and office for RM1.1b—sources
As for the TRX Campus office, Lendlease’s exit will see Valiram hold a 60% stake, and TRX City the remaining stake.
As for the TRX Campus office, Lendlease’s exit will see Valiram hold a 60% stake, and TRX City the remaining stake.
Looking ahead, the group said it remains optimistic on opportunities in the rail and infrastructure sector.
The transaction is part of Lendlease’s capital recycling programme and reflects growing investor confidence in the performance and long-term potential of the Tun Razak Exchange precinct.
This development consists of a five-storey basement, a 10-storey podium, a 48-storey hotel and private residences (Tower 1) and a 56-storey serviced apartment (Tower 2).
The agreement provides a framework for further negotiations towards a definitive agreement, SD Guthrie and Permodalan Darul Ta’zim said in a joint statement.
The earnings uplift stems from the sale of industrial land in Kulai by KLK’s wholly-owned subsidiary Aura Muhibbah Sdn Bhd (AMSB) to a joint venture with Mah Sing Group Bhd (KL:MAHSING), which Kenanga Research estimates will result in a one-off disposal gain of about RM77 million.
SunCon did not disclose further details on the awarding party or the project locations.
The centre is part of the Lenggong Valley Sustainable Community Development Programme, a capacity-building programme, initiated by Think City in 2023 with the support of Yayasan Hasanah, that focuses on strengthening awareness and understanding of Lenggong’s heritage.
Titiwangsa member of Parliament Datuk Seri Johari Abdul Ghani said that some residents had already vacated their original homes but claimed they had yet to receive the compensation due to them.
The project is a 21-storey waterfront condominium development in Miami’s North Bay Village that will feature 54 one-of-a-kind residences, according to its latest annual report.