LSH Capital shareholders give nod to proposed expansion into property development


KUALA LUMPUR: The shareholders of Lim Seong Hai Capital Bhd have greenlit the proposals for the group to acquire Astana Setia Sdn Bhd and Lim Seong Hai Ventures Sdn Bhd, alongside the proposal to diversify its business into property development activities.

"We will continue to implement our growth strategy and to pursue other future opportunities to further enhance the RM775mil outstanding construction work orderbook that we have, in addition to the the provision of construction-related services and solutions under the BEST Collaboration Framework which the Group will to be entitled to fees based on their client’s construction and property projects value of RM2.8bil.

"The corporate proposal has also given us the opportunity to undertake development projects with gross development value of RM1.6bil which will also benefit other divisions under the group," said non-executive chairman Tan Sri Lim Keng Cheng in a statement.

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