Sim Lian

Sim Lian: Subsidiary Perumahan SLG Central will be launching 184-units of its KL Trillion serviced residences on 5 Jul. The development is based in the middle of the city centre in Kuala Lumpur, Malaysia. The service residential residences are priced from MYR965 (S$405) psf with an estimated gfa of 687k sf, which will net ~$278m for the group. A total of 368-units in the freehold integrated development will comprise a 33-storey Grade A office block and two 39-storey blocks of serviced residences above a five-level retail & office podium, with an expected completion date in 4Q15. The development will also offer the attractive DIBS (Developer Interest Bearing Scheme), where instalment payments will commence only after project completion. At the last closing price of $0.885, Sim Lian trades at 1.1x P/B.