You are here

Lum Chang Holdings unit in JV with Malaysian company for mixed-use project

LUM Chang Holdings (LCH) has tied up with Tien Wah Press Holdings Berhad (TWPH) through a joint venture to undertake a mixed-use development in Malaysia.

In a filing to the Singapore Exchange on Monday, LCH said that it had on May 16, through its wholly owned unit Kemensah Holdings Pte Ltd, inked a shareholders' agreement with TWPH unit Tien Wah Properties Sdn Bhd (TWPSB) to form a joint venture (JV). The JV company Sterling Model Sdn Bhd will own, manage and develop the mixed-use project.

This JV company will have an issued and paid-up share capital of RM10 million (S$3.4 million). It has also entered into a sale and purchase agreement with TWPSB to acquire a piece of leasehold industrial land in Petaling Jaya for RM63.75 million. The 13,040 sq m plot has a lease residue of about 44 years.

"The proposed acquisition is a continuation of the LCH Group's property and development business in Malaysia," LCH said in the filing.

"The board believes the proposed acquisition represents a prime investment opportunity to consolidate the LCH Group's property and development portfolio in Malaysia."

Your feedback is important to us

Tell us what you think. Email us at

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to