Suria says it won’t bear capital outlay in JV

PETALING JAYA: Suria Capital Holdings Bhd will not have to bear any capital outlay in its joint venture with Gabungan AQRS Bhd to develop the One Jesselton Waterfront project in Sabah.

Replying to a query from Bursa Malaysia yesterday, it said it would get 18% of the net sale value (NSV) of the mixed development project, which has an estimated NSV of RM1.8bil, as well as a seven-storey office block and a five-storey retail mall, valued at RM178.4mil, as payment in kind.