{"id":211575,"date":"2023-06-01T07:10:50","date_gmt":"2023-06-01T07:10:50","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=110314"},"modified":"2023-06-01T07:10:50","modified_gmt":"2023-06-01T07:10:50","slug":"vci-global-engaged-as-consultant-for-rm600-million-approximately-usd130-million-mixed-development-project-in-melaka-malaysia","status":"publish","type":"post","link":"https:\/\/taiwannewswire.com\/vci-global-engaged-as-consultant-for-rm600-million-approximately-usd130-million-mixed-development-project-in-melaka-malaysia\/","title":{"rendered":"VCI Global engaged as consultant for RM600 million (approximately USD130 million) mixed development project in Melaka, Malaysia"},"content":{"rendered":"
\n

KUALA LUMPUR, Malaysia, June 01, 2023 (GLOBE NEWSWIRE) — VCI Global Limited (NASDAQ: VCIG) (\u201cVCI Global\u201d, or the \u201cCompany\u201d) today announced that its wholly owned subsidiary, V Capital Real Estate Sdn Bhd (\u201cV Capital Real Estate\u201d) has been engaged as a consultant by Tinta Anggun Engineering Sdn Bhd (\u201cTinta Anggun\u201d). This is with respect to the latter\u2019s mixed development project known as Porto De Melaka, comprising residential and commercial units on a 9.91-acre commercial land in Melaka. The land, located next to the Melaka river mouth, fronting the sea, is about 600 metres from the famous Jonker Walk within the UNESCO Heritage Site of Melaka. Melaka, located approximately 2 hours driving distance from the capital of Malaysia, Kuala Lumpur, attracts an average of 18 million tourist arrivals to the UNESCO Heritage Site of Melaka. The site also boasts a waterfront resort living style and located next to the upcoming Melaka International Yacht Club.<\/p>\n

V Capital Real Estate\u2019s scope of consultancy works includes, amongst others, the successful development and execution of the development strategies for Tinta Anggun, advise on the development of capital structures of equity and debt and advise in financial analysis and project evaluation.<\/p>\n

The entire Porto De Melaka project, with a RM600 million (approximately USD130 million) gross development value (\u201cGDV\u201d), comprises one 241-room hotel, 1 block of serviced suite of 140 studio units and another 4 blocks of serviced apartments comprising 342 units. V Capital Real Estate\u2019s consultancy works will focus on 3 of the 4 serviced apartments and the 241-room hotel, with a cumulative GDV of RM400 million (approximately USD87 million). The consultancy fee in turn shall be 20% of any revenue generated from this portion of the development during the 5-year term of the consultancy.<\/p>\n

Tinta Anggun believes there is currently significant demand for residential development in Melaka and expects occupancy rates to be high given the location of this development which is in the main population centre of the Melaka state. Demand would be well supported by the state of Melaka\u2019s mean monthly household gross income of RM7,186 (approximately USD1,560) in 2020, based on data by Department of Statistics Malaysia, which is higher than Malaysia\u2019s overall mean monthly household gross income of RM7,089 (approximately USD1,540).<\/p>\n

\u201cI am humbled that our consultancy reputation is taking traction amongst the developers. Here, we would like to thank Tinta Anggun for giving us the opportunity to be part of this development which will undoubtedly play its part in sustaining the state\u2019s economic growth, as economies continue to sail further away from the pandemic storm into a new post Covid era,\u201d said Dato\u2019 Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.<\/p>\n

About VCI Global Limited <\/strong><\/p>\n

VCI Global is a multi-disciplinary consulting group with key advisory practices in the areas of business and technology. The Company provides business and boardroom strategy services, investor relation services, and technology consultancy services.\u00a0Its clients range from small-medium enterprises and government-linked agencies to publicly traded companies across a broad array of industries. VCI Global operates solely in Malaysia, with clients predominantly from Malaysia, but also serves some clients from China, Singapore, and the US.<\/p>\n

For more information on the Company, please log on to https:\/\/v-capital.co\/<\/a><\/em>.<\/p>\n

Cautionary Note Regarding Forward-Looking Statements<\/strong><\/p>\n

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.<\/p>\n

CONTACT INFORMATION:<\/strong><\/p>\n

Issued by Imej Jiwa Communications Sdn Bhd on behalf of VCI Global Limited<\/strong>
\nFor media queries, please contact:<\/p>\n

Imej Jiwa Communications Sdn Bhd<\/strong>
\nChris Chuah
\nEmail: chris@imejjiwa.com<\/a><\/p>\n

GlobeNewswire Distribution ID 8850363<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, Malaysia, June 01, 2023 (GLOBE NEWSWIRE) \u2014 VCI Global Limited (NASDAQ: VCIG) (\u201cVCI Global\u201d, or the \u201cCompany\u201d) today announced that its wholly owned subsidiary, V Capital Real Estate Sdn Bhd (\u201cV Capital Real Estate\u201d) has been engaged as a consultant by Tinta Anggun Engineering Sdn Bhd (\u201cTinta Anggun\u201d). This is with respect to [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"yoast_head":"\nVCI Global engaged as consultant for RM600 million (approximately USD130 million) mixed development project in Melaka, Malaysia - Taiwan Newswire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taiwannewswire.com\/vci-global-engaged-as-consultant-for-rm600-million-approximately-usd130-million-mixed-development-project-in-melaka-malaysia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VCI Global engaged as consultant for RM600 million (approximately USD130 million) mixed development project in Melaka, Malaysia - Taiwan Newswire\" \/>\n<meta property=\"og:description\" content=\"KUALA LUMPUR, Malaysia, June 01, 2023 (GLOBE NEWSWIRE) \u2014 VCI Global Limited (NASDAQ: VCIG) (\u201cVCI Global\u201d, or the \u201cCompany\u201d) today announced that its wholly owned subsidiary, V Capital Real Estate Sdn Bhd (\u201cV Capital Real Estate\u201d) has been engaged as a consultant by Tinta Anggun Engineering Sdn Bhd (\u201cTinta Anggun\u201d). 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