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Wednesday, September 24, 2008

SBC plans two more projects

KUALA LUMPUR: SBC Corp Bhd aims to launch two mixed development projects with an estimated total gross development value (GDV) of RM800mil by next year in southern Selangor and along Jalan Kuching, Kuala Lumpur.

“We estimate our future projects over the next five years, inclusive of these two projects, to have total GDV in excess of RM1bil,” said managing director Sia Teong Heng after the company’s AGM yesterday.

Sia Teong Heng (left) and SBC deputy COO Yap Wei Yee at the AGM.

SBC’s future projects would be “integrated” with transport links such as the light-rail transit, he added.

He cited the success of the company’s PJ Exchange (PJX) office tower project in Petaling Jaya which has attracted requests from corporate clients to replicate the model.

“We are currently in talks with a few parties and hope to close some deals by next year,” he said.

In view of the softening property sector and rising raw material prices, Sia said SBC planned to overcome that problem by looking out for good locations.

“We are working hard to look at some good locations and we believe that long-term investors would invest in good locations,” he said.

SBC currently has a total landbank in excess of 700 acres in the Klang Valley and Kota Kinabalu, Sabah.

On overseas markets, Sia said the company would continue to explore opportunities in Bangkok but had no immediate plans to go beyond Thailand.

By The Star

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