KUALA LUMPUR: Proven Land Sdn Bhd has sealed an agreement for a 20 per cent stake in EXSIM Development Sdn Bhd's wholly-owned subsidiary Sunrise Charm Sdn Bhd.
The acquisition will provide Proven Land with access to a varied and inventive project lineup, offering substantial prospects for growth and advancement, the company said.
"With a history of numerous successful developments, EXSIM has played a pivotal role in shaping the urban landscape and driving economic growth.
"This partnership is poised to harness the parties' expertise to foster substantial growth in the property sector," Proven Land said.
Proven Land director Jack Leong stated that the investment in Sunrise Charm represents a major milestone for the company.
"By subscribing to the stake, we are poised to leverage their innovative projects and expertise, enhancing our portfolio and creating new opportunities for growth.
"This collaboration underscores our commitment to high-potential sectors and driving economic prosperity in the Asean region," he said.
EXSIM managing director Lim Aik Hoe said: "We are delighted to welcome Proven Land as our partner. This collaboration signifies their confidence in EXSIM in building more greener and sustainable developments, while elevating the living lifestyle of our buyers."
Proven Land expressed strong optimism about the future growth prospects of Malaysia's property development sector.