Sunway 163 is presently 99% occupied, with over 100 tenants and brands with a diverse range of retail offerings, catering to a catchment encompassing Mont’ Kiara, Hartamas and Segambut.
YNH Property in January announced its plan to sell the seven-storey retail shopping centre to Sunway REIT for RM215 million in cash.
“There are no liquidated damages or penalties that the company needs to compensate [concerning the SPA with ALX Asset].
The contraction in Sunway REIT’s NPI was attributed to higher reversal of doubtful debt provision recorded in 4QFY2022 and the impact of increased Imbalance Cost Pass-Through (ICPT) electricity charges across all segments.
YNH had previously inked an agreement in November 2022 to sell the mall for RM270.
For the first half ended June 30, Sunway REIT’s NPI advanced 12.
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.
Sunway REIT chief executive officer Datuk Jeffrey Ng Tiong Lip: “Sunway REIT has recovered well from Covid-19 pandemic.
The trust aims to grow its asset value to between RM14 billion and RM15 billion by 2027, from RM9.
The only property app you need. More than 200,000
sale/rent listings and daily property news.
