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KUALA LUMPUR: YNH Property Bhd (YNH) will develop and lease AEON Sri Manjung Shopping Centre in Manjung Point Township.
YNH via its wholly-owned subsidiary, Kar Sin Bhd entered into an agreement to lease with AEON Co (Malaysia) Bhd (AEON) on Feb 25, it said in a Bursa announcement on the same day.
“We are very happy to work with AEON, with their track record of managing shopping centre all over Malaysia. We believe this collaboration will enhance our property’s value, image and reputation,” said Daniel Chan, YNH head of corporate strategy.
The company believed the new shopping centre will enhance the value of the remaining 1000 acres of undeveloped land in Manjung Point township. Additionally, it will contribute positively to the future earnings of the company.
The shopping centre will cover about 31.256 acres of land with a total gross floor area of 661,097 sq ft. The total construction cost is about RM135.10 million and the development is scheduled to be completed by November 2012.
