Yuk Tung group keen to do more projects
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By S.C. CHEAH
THE Yuk Tung Group is a reputable investment holding company well known in Macau and Hong Kong.
Under the leadership of its founder Low Thiam Herr and co-founder Lim Kim Chai, the group will be involved in more high-end property developments in Malaysia.
Low and Lim, who are also the chairman and deputy chairman of HR United Group respectively, are shareholders of several international investment firms in Hong Kong, Macau, Singapore and China.
They are keen to be involved in property developments in Malaysia and together with the HR United Group will undertake various projects in the Klang Valley. The HR United Group has eight ongoing and proposed projects with a gross development value of RM1bil.
Low Thiam Herr (left) and Lim Kim Chai showing the scaled-down model of The Peak
They are looking for more prime land particularly in the Klang Valley to do upmarket projects.
In the pipeline is a 160-unit upmarket condominium in Mont'Kiara, Kuala Lumpur. It will be the group's maiden project in the exclusive expatriate enclave and is expected to be launched end of this year.
Yuk Tung has also bought a piece of land very near the prestigious Kuala Lumpur City Centre (KLCC) development where it also proposes to build a high-end condominium.
Low, 47, a Singaporean has vast experience in international networking and has over 20 years business experience and in depth knowledge in trading, investments, operation of entertainment and tourism related businesses while Lim, 40, has been active in the investment industry and has extensive experience in manufacturing and international businesses.
“The group remains positive about the property market in Malaysia and will maintain its focus on the core business of property investment and development. The challenge for the future is to build, utilise and most of all maintain its corporate resources to support its core business goals,” said Low.
“We feel that the Malaysian government's austerity measures for the property sector over the past years and the strong commitment from all levels of our management team will ensure delivery of quality property and excellent customer service. With the strong support from our business associates as well as financial institutions, the group's prospects will continue to be bright,” he added.
While the Yuk Tung Group has established itself overseas, the HR United Group is more popular in Malaysia having done several successful projects in this country.
These include completed projects such as a mixed residential project in Seremban, terrace factories and single storey houses in Negri Sembilan.
It has also built 380 apartments with condominium facilities in Bandar Country Homes, Rawang and Taman Dagang and Sri Ampang, both in Kuala Lumpur.
Its current projects are the Suria Mas @ Bandar Sunway (three blocks of 16-storey apartments with condo facilities), Madu Mas @ Setapak (a nine-storey apartment and townhouses), Pangsapuri Persanda in Shah Alam, Kinrara Mas in Puchong (three-storey terrace houses and apartments), Vista Emas in Bangi (double-storey terrace houses) and the Peak in Cheras (freehold, low-density urban villas).
Its corporate office is at Wisma HR in Pusat Bandar Country Homes, Rawang. There are plans for both groups to have a new corporate office.