Tan Sri Lim Kim Hong
i-City, 24 April 2024 – I-Berhad master developer of Malaysia No. 1 Technology City, i-City today announced a RM100 million investment pledge in Redeemable Preference Shares from its major shareholder Tan Sri Lim Kim Hong.
The financial backing is geared towards expediting property development pipeline in i-City, to leverage the anticipated upswing in the property market. It also underscores a strong vote of confidence in i-City’s growth potential and strategic initiatives especially with the acceleration of Malaysia Digital agenda which extends towards digital townships.
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According to Lim, it is a “shared vision for a future where technology and lifestyle intersect to forge unparalleled destination to eat, play and live. It reaffirms our strategy to not only construct buildings but also cultivate communities and experiences that resonate with contemporary urbanite”.
In the past two years, the Group has been rebuilding its property development roadmap that was disrupted by the pandemic and is now positioned for significant growth where unbilled sales increased to RM113 million at the end of 2023 from RM39 million in the same period in 2021.
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