News about update

The project is expected to have a gross domestic value (GDV) of RM27 billion, spanning 22 years.

In a statement, SD Guthrie group managing director Datuk Mohamad Helmy Othman Basha said industrial development is set to become an important pillar of the group’s future growth.

The proceeds will also be used for general corporate purposes, refinancing of existing borrowings, and inter-company advances within the Sunway group via shariah-compliant structures such as mudharabah or wakalah, said Sunway.

Chai Yee Choong, 54, has also stepped down as a non-independent director of the company, according to a stock exchange filing.

The project, part of the proposed Sunway Cochrane development, comprises two serviced apartment blocks with rooftop facilities, a seven-storey podium with retail floors and a link bridge to the Cochrane MRT Station, according to the company’s bourse filing.

Under the partnership, each open-market unit will come with four inverter air-conditioners, electric water heaters and a 90cm induction hob with hood.

With a gross development value of RM800 million, the project will offer about 1,300 units consisting of serviced apartments with built-ups from 484 to 657 sq ft, as well as office suites with built-ups from 323 sq ft.

The move comes as Batu Kawan continues to attract multinational manufacturers, semiconductor players, logistics providers and data centre operators, driven by Penang’s position as Malaysia’s top electrical and electronic (E&E) investment hub.

In August, E&O inked a deal to sell two adjoining freehold land parcels in Hammersmith—held under its indirect subsidiary Hammersmith Properties Ltd—to Varsity Capital 1 Propco Ltd for up to £90.

Outside at the Esplanade, Malaysia’s first outdoor skating rink circles the mall’s 80ft Christmas tree, set against the PETRONAS Twin Towers.