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Hong Leong in JV with Malaysian construction group to expand precast business

Michelle Zhu Published on Tue, Jan 30, 2018 / 6:10 PM GMT+8

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SINGAPORE (Jan 30): Hong Leong Asia’s wholly-owned subsidiary, HL Building Materials, has established a 51%-owned joint venture (JV) company with Malaysia’s Sunway Construction Group (SunCon) for $25,000.

SunCon holds the remaining 49% interest in the joint venture company, named HL-Sunway JV, through its subsidiary Sunway Concrete Products.

In a Tuesday announcement, Hong Leong says both parties have agreed to submit a tender to the Building & Construction Authority (BCA) for the lease of land in Singapore via the newly-established JV, and subsequently develop buildings for use by the respective businesses of HL Building Materials and SunCon.