KUALA LUMPUR: Lim Seong Hai Capital Bhd (LSH Capital) has entered into two BEST Strategic Collaboration Agreements on Friday for mixed development projects in Kuala Lumpur and Selangor with a combined estimated gross development value (GDV) of RM903.9 million.
In a filing to Bursa Malaysia on Friday, the company said its wholly owned subsidiary, Astana Setia Sdn Bhd (ASSB), has signed a collaboration agreement with Airman Sdn Bhd for the LSH Bund development along Jalan Pahang, Setapak, Kuala Lumpur.
The proposed 52-storey mixed development has received principal approval for a plot ratio of 6.4 and an estimated GDV of RM500 million.
Another subsidiary, LSH Best Builders Sdn Bhd (LSHBB), entered into a similar agreement with Bakti Jaya Impian Sdn Bhd for a mixed residential and commercial development in Setapak, Gombak, Selangor, with an estimated GDV of RM403.9 million.
LSH Capital said the collaborations are not expected to have any immediate impact on the group’s net assets, gearing or earnings per share (EPS).
Barring any unforeseen circumstances, it said the BEST Collaborations are expected to contribute positively to the group’s future earnings and EPS once the respective projects have been launched. – BERNAMA
