DBhd’s subsidiary to manage S'pore sports centres’ car parks

Damansara Realty Bhd CEO Brian Iskandar Zulkarim

KUALA LUMPUR: Damansara Realty Bhd’s 70% owned indirect subsidiary Metro Parking (Singapore) Pte Ltd has secured an S$18.14mil (RM56.54mil) contract to operate and manage car parks at Sport Singapore’s Sport Centres.

In a filing with Bursa Malaysia, DBhd said the contract would be effective on submission of the letter of acceptance and bank guarantee to Sport Singapore (formerly Singapore Sports Council) on Thursday (today) and operation would start on Sept 1 for a period of five years.

According to Sport Singapore’s website. it records over 11 million users annually at its Sport Centres (formerly known as Sports and Recreational Centres).

Sport Singapore is a statutory board under the purview of the republic’s Culture, Community and Youth Ministry. Its main activities are to plan for and promote recreational and competitive sports and to develop, manage and maintain public sports facilities.

DBhd has overseas car park management businesses in Singapore and the Philippines.

DBhd group chief executive officer Brian Iskandar Zulkarim on Wednesday told a media briefing that its unit Metro Parking (M) Sdn Bhd would not be venturing into any new markets in the near term and would instead focus on the domestic market.