(Refiles to change day to Friday.)
KUALA LUMPUR Dec 7 A consortium involving
Malaysian property developer Sunway Berhad won a bid
to develop a land in Singapore worth 1.2 billion ringgit
($393.83 million), the firm said in a stock exchange filing on
A unit of Sunway Berhad, Sunway Developments PTE Ltd,
together with Hoi Hup Realty Pte Ltd and Hoi Hup JV Development
submitted the winning tender to Singapore's Urban Redevelopment
Authority to develop a land parcel in the city state.
Located on the outskirts of the city centre, the land parcel
has a 99-year lease term.
The project is expected to be completed in 5 years or
earlier, starting from Dec 7, and will start contributing to
parent Sunway Group's earnings from 2014 onwards, Sunway Bhd
($1 = 3.0470 Malaysian ringgit)
(Reporting by Niluksi Koswanage)