WM Senibong mulls equity fundraising

Staggered launches: (From left) WM Senibong Sdn Bhd director of sales and marketing Siew Siew Hoon, director of projects Ling Ngie Soon, Quay, director of business development and corporate finance Chan Wei Chun and director of accounts Theresa Quek Siok Kiow.

JOHOR BARU: Property developer WM Senibong Sdn Bhd is exploring an equity fundraising exercise to strengthen its balance sheet, while continuing to leverage its landbank in Johor – which has a gross development value (GDV) of RM36bil –to drive earnings.

Chief executive officer Quay Chew Keong said the company’s total landbank of 816.25 ha across several townships in Johor provides a steady development pipeline for the next two decades, with about 500 acres already launched.