Sime Darby Property Bhd reported slightly higher net profit of RM640mil in the financial year ended June 30, 2018 mainly due to higher contribution from concession arrangement segment and two sale transactions.
SHAH ALAM: Developer Sime Darby Property Bhd
is optimistic about the prospects of its Malaysian Vision Valley (MVV) development despite the fact that the Kuala Lumpur High-Speed Rail (HSR) project has been scrapped.
Sime Darby Property township COO Datuk Wan Hashimi Albakri said the developer has engaged the new government about MVV, who are also optimistic.
“The project will be a game-changer and is set to be a boost to Negeri Sembilan and the Malaysian economy,” he said earlier today following a signing ceremony with the United Nations Children’s Fund (UNICEF).
The HSR has been scrapped by the new Pakatan Harapan government as it was deemed to not be financially viable.
Under the proposed project, the Seremban and Muar HSR stations were supposed to be located within the MVV.
Hashimi said Sime Darby is in talks with developers to participate in MVV.
The development will span 379,000 acres, and is focused on a variety of industries, including healthcare, education and tourism. It is located in Negri Sembilan, bordering Selangor.
Meanwhile, Sime Darby Property has signed a memorandum of understanding (MoU) with UNICEF to build Malaysia’s first inclusive playground at the developer’s City of Elmina project.
Sime Darby Property has set aside an initial budget of RM1mil to build the inclusive playground.
Scheduled for completion in the first half of 2018, the inclusive playground in City of Elmina will enable children with and without disabilities to play together as equals, creating opportunities for inter-generational interaction within families and social cohesion of the wider community.
Sime Darby Property is Malaysia’s largest property developer in terms of landbank with 20,743 acres of remaining developable land as at Dec 31, 2017.
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