Rivertree STF Synergies to explore development of 28,800-bed labour quarters

From left: Catenary Capital Sdn Bhd founding partner Lock Jian Wah, Catenary Capital founding partner Hizzan Hamid, Rivertree STF Synergies Bhd executive director Datuk Simon David Leong, Rivertree executive director Datuk Joey Yan and RSSB Builders Sdn Bhd executive director Datuk Leo Ong.

KUALA LUMPUR: Rivertree STF Synergies Bhd, formerly known as Sinmah Capital Bhd, said its wholly-owned subsidiary RSSB Builders Sdn Bhd has entered into a head of agreement (HoA) to construct and operate four greenfield centralised labour quarters (CLQ) with 28,800 beds valued at RM600mil.

In a filing with Bursa Malaysia, the group said RSSB Builders inked the collaboration with Asetra Sdn Bhd, a firm owned by fund manager Catenary Capital Sdn Bhd, as well as Q Centre (Teratai) Sdn Bhd and Q Centre Management Sdn Bhd.