Called the Sunway Residence Trust, it will provide the company with the potential for long-term capital appreciation and sustainable income that will be yield-accretive to the portfolio.(File pic shows the iconic Synway Pyramid)
PETALING JAYA: Sunway Bhd
has established a private trust in Singapore with an initial asset under management of approximately RM202mil that will invest in high-quality, well-located student accommodation.
In a filing with Bursa Malaysia yesterday, Sunway said its subsidiary, Sunway RE Capital Advisors (Sg) Pte Ltd (SG Fund Manager), had executed a trust deed with RBC Investor Services Trust Singapore Ltd to establish the trust.
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