10/06/2025

BIZ & FINANCE TUESDAY | JUNE 10, 2025

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Asia Vision Capital to widen reach of its real estate funds via tie-up with JYSigma JOHOR BAHRU: Venture capital company Asia Vision Capital Sdn Bhd (AVC) has teamed up with JYSigma Business Consultancy (JBC) to enhance investor engagement for its private equity real estate funds in the region. The partnership aimed to broaden AVC’s investor outreach throughout Southeast Asia and increase access to the Quayside JBCC development in Johor Bahru, strategically located near the Johor–Singapore corridor. In a statement, AVC’s chief invest ment officer, Ian Khor, said the collaboration reflects the company’s commitment to delivering insti tutional-quality real estate invest ments in Malaysia. JBC, which has a strong presence in Singapore, Hong Kong, Thailand, Dubai, and Malaysia, will support AVC by providing local market insights, outreach assistance, and execution capabilities across key regional markets. The partnership will enhance investor access to AVC’s two regulated funds: QJBCCA PLT, a conventional fund, and QJBCCI PLT, a Shariah compliant fund. Both funds offer accredited investors exposure to the Quayside JBCC development in the Johor–Singapore Special Economic Zone (JS-SEZ). Quayside JBCC development fea tures serviced residences, retail outlets, a rooftop restaurant, and a hotel managed by internationally recognised brands. It generates revenue from hospitality, retail, dining, parking, and advertising. The Quayside JBCC development is scheduled to begin operations by 2027/2028, with a potential real estate investment trust listing planned by 2032. To deepen its involvement, JBC has established a dedicated office in Johor Bahru, underscoring its commitment to the partnership. JBC director Jack Yang said the collaboration marked an important step into high-impact, syariah-com pliant real estate investments, a sector he views as crucial for Southeast Asia’s capital markets. “We see this area as increasingly important for capital deployment in Southeast Asia,” he added. – Bernama PETALING JAYA: Property developer LBS Bina Group Bhd’s special purpose vehicle, Suria Hijauan Sdn Bhd, has secured a RM88.4 million green financing facility from Alliance Bank Malaysia Bhd to fund the engineering, procurement, construction and com missioning (EPCC) costs for its maiden 43 MWp solar farm project. The project, which is under the Corporate Green Power Programme, is located in Senawang, Negeri Sembilan, and is scheduled for com pletion by the end of this year. The solar farm is expected to deliver stable, recurring revenue, thus enhancing long-term earnings resi lience and underscoring LBS’s commitment to sustainable growth. The solar farm project is expected to generate approximately 53,000

Hartanah Kenyalang eyes more Sarawak infra projects From left TA Securities Holdings corporate finance head Ku Mun Fong; Hartanah Kenyalang independent non-executive director,Chai Suk Phin; executive director cum COO Tony Cheok Liam Fock; Seah Boon Kee; independent non-executive chairperson Datin Josephine Anak Hilary Dom; Seah Boon Tiat; non-executive director Peter Chai Mui Seng; independent non-executive director Victor Fong Yoo Kaw; independent non-executive director Ong Ai-Lyn; and TA Securities Holdings executive director of dealing Datuk Hamzah Mohd Tahir at the listing ceremony.

increased at a CAGR of 24%, growing from RM4.8 million to RM9.2 million. TA Securities Holdings Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent of Hartanah Kenyalang’s IPO. “Today, with RM19.3 million in funding raised from our IPO exercise, we are going to utilise approximately RM3 million of the IPO proceeds to purchase six new excavators in order to increase our capacity and pro ductivity,” Seah said. “We also plan to expand into offering design and build services for our building construction services segments and infrastructure cons truction services segments by investing in the Building Information Modelling (BIM) System.” Deputy managing director Seah Boon Kee said BIM helps architects coordinate their designs for a building, reduce errors of construction and speed up the process of construction. “Thus far, we have one state archived project where we use BIM.”

to follow through with them,” he said. The company has also tendered for water projects in Sarawak, including water treatment plants. Hartanah Kenyalang made a muted debut on the ACE Market yesterday, opening at its initial public offering (IPO) price of 16 sen per share. Its share price closed at 14.5 sen. The company raised RM19.3 million through a public offering of 198.4 million shares, representing 32% of its enlarged share capital of 620 million shares. Its IPO was oversubscribed by 5.33 times. At listing, Hartanah Kenyalang’s indicative market capitalisation was about RM99.2 million. Hartanah Kenyalang has re corded strong financial growth, with revenue increasing from RM34.1 million for financial year ended Oct 31, 2021 to RM127.6 million for financial year ended Oct 31, 2024, a compounded annual growth rate (CAGR) of 55% per annum. During that period, profit after tax

o Construction company makes debut on ACE Market, hopeful of securing power substation, bridge and water deals

KUALA LUMPUR: Sarawak-based building and infrastructure cons truction company Hartanah Kenyalang Bhd expects to secure 10% to 15% of projects with an aggregate contract value of RM451 million that it has tendered for by the end of 2025. “Many of the projects are open tender, so there are many tenders involved. However, one of the projects related to power substation, I believe we will have a better chance (of securing),” managing director Seah Boon Tiat said after the listing of the company under the construction sector on the ACE Ű BY MAHADHIR MONIHULDIN sunbiz@thesundaily.com

Market of Bursa Malaysia yesterday. He noted that Sarawak produces 3.5 gigawatts of green energy and this is expected to increase to 10 gigawatts in 2030. “This energy will go to the substation, so our job here is tendering for substation projects and this will benefit our company. We have started tendering for these projects since last year,” Seah said. He added that the Sarawak government has allocated RM1 billion allocated for the develop ment of bridges and road projects. “Currently we are doing one project and have tendered for another one bridge project as well. It’s a design and build type project ... so hopefully we have some chances

LBS gets RM88.4m green financing from Alliance Bank for solar farm project

and financial strength, while also facilitating the successful execution of this project.” He added that this initiative not only resonates with their goal of creating a positive environmental impact, it also strategically complements their core property development business by integrating future product offerings with renewable energy solutions. Alliance Bank Group CEO Kellee Kam said they believe financial institutions have a critical role to play in advancing sustainable development and are honored to partner with LBS, a company whose values and vision closely align with their own. He added, “Today’s announcement is not just the launch of a project—it marks the beginning of a journey and a cause we are proud to be part of.”

MWh of clean energy annually, effectively offsetting about 35,000 tonnes of carbon emissions. Atlantic Blue Sdn Bhd, a subsidiary of Solarvest Holdings Bhd, was appointed as the EPCC contractor under a RM104 million contract, leveraging its expertise in delivering large-scale solar projects. LBS group executive chairman Tan Sri Lim Hock San said, “This green financing marks an important mile stone for LBS as we diversify into renewable energy, reinforcing our commitment to sustainability. “Securing this credit facility from a reputable bank like Alliance Bank highlights the strong potential of our renewable energy venture and our capacity to expand our initiatives within this sector. This support reflects confidence in our strategic direction

Lim (left) with Kam showing the signed fiancing facility document.