Catenary Capital Sdn Bhd has entered into a Heads of Agreement (HoA) with Main Market-listed Rivertree STF Synergies Berhad (RSSB), formerly known as Sinmah Capital Berhad, and Q Centre Management Sdn Bhd (QCM) for the development of up to four Centralised Labour Quarter (CLQ) facilities in the Klang Valley, with an aggregate indicative development value of approximately RM600 million and a total capacity of 28,800 beds.
The HoA marks Catenary Capital’s first investment since its formation and its entry into Malaysia’s CLQ sector. The projects will be executed via Catenary Capital’s wholly owned investment vehicle, Asetra Sdn Bhd.
The first project, Q Centre @ Teratai in Meru, Klang, will comprise 9,000 beds with an indicative development value of approximately RM171 million. The remaining three proposed CLQs, with a value of RM429 million, are expected to provide a further 19,800 beds, subject to finalisation of sites and definitive agreements.
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