KUALA LUMPUR (March 27): Sunsuria Bhd will be investing RM100 million for landscape works on its landmark township Sunsuria City, which covers individual plot landscape work and township streetscape.
The property developer inked a joint venture (JV) agreement with Gan Teck Boon — founder of Savanna Landscaping — to operate and manage the landscape and nursery functions of Sunsuria’s group of businesses.
The JV company will be called Sunsuria Landscape & Nursery Sdn Bhd and will undertake the relevant landscaping work for all properties developed by Sunsuria.
“This investment demonstrates our commitment to the ‘Smart, Livable and Sustainable’ proposition for Sunsuria City, which is a low-carbon and green township,” said Sunsuria’s Executive Chairman Datuk Ter Leong Yap.
Sunsuria’s Chief Executive Officer Koong Wai Seng said the JV leverages on the over two decades of experience Gan has in the landscaping business, and enables Sunsuria to internalise the group’s landscaping function to provide a seamless green experience across all property developments.
“Moving forward, we will eventually set up our own plant nursery within Sunsuria City as a long-term, sustainable means of growing and maturing our own greenery.
“With Gan’s experience, the JV will achieve operational efficiencies and economies of scale from the potential size of landscaping works. This will enhance our margins in the long run,” said Koong.
Sunsuria shares closed three sen or 2.17% lower at RM1.35 today, with a market capitalisation of RM1.09 billion. — theedgemarkets.com