KTI Sdn Bhd and Housing and Town Development Board (LPPB) has embarked on a high-profile mixed-development project in the affluent suburb of Luyang aimed at converting a derelict land into an upscale residential, commercial and lifestyle hub.
The Logg, funded by Sabah Development Bank (SDB), will see all three industry players being Sabah-based, signifying the state financial institution’s capability to support Sabah’s property and construction industry without dependence on external funding to help spur the local economy.
A signing ceremony between KTI and Sabah Development Bank was held on Dec 8 here to signify financial support by the bank to help realise the project’s completion in the next four years.
A two-day sales preview event held in conjunction with the event saw an encouraging 30 per cent sales pick-up of the condominium units as interest in the project continues to grow.
SDB’s funding also comes at an opportune time amid
KUALA LUMPUR (Jan 21): AmBank Group and Sabah Development Bank Bhd (SDB) are offering RM100 million worth of financing to help small and medium enterprises (SMEs) in Sabah weather the financial impact of the Covid-19 pandemic.
The initiative is part of the Sabah SME Guarantee Scheme, a financing facility, designed with the primary objective of providing working capital, exclusively for SMEs in the State.
AmBank group chief executive officer (CEO) Datuk Sulaiman Mohd Tahir said the facility will be made available in the first quarter of 2021, on a first come, first served basis.
AmBank will be providing the funding, while SDB will guarantee a certain amount of the financing issued.