Seri Kembangan, Kuala Lumpur; 5 February, 2024 – Sentoria Group Berhad (“Sentoria”) has obtained the green light from Kementerian Pembangunan Kerajaan Tempatan (KPKT) to move ahead to complete its projects. The developer was issued an interim removal from the delayed housing development list. The notice was timely to Sentoria’s corporate turnaround exercise, which saw a newly appointed senior management and board restructuring, helming the new way forward.

Dato’ Loh Yuen Tuck, Group Chief Executive Officer of Sentoria Group Berhad, expressed gratitude for KPKT’s decision, stating, “We warmly welcome and appreciate this positive news. It marks a significant milestone, providing the much-awaited support to successfully conclude our pending critical projects in Morib, especially for the benefit of our valued customers.”

With KPKT’s approval now secured, the Orkid project, a terrace-house development at Morib Bay, Selangor, will see an accelerated completion date. The project comprising, 148 single-storey terrace house units, with 126 units sold, with Certificate of Completion and Compliance (CCC) to be completed by June 2024. Sentoria’s sold out Seroja and Mawar projects are in line to be completed by the 1st quarter of 2024. The total GDV of the 3 projects are approximately RM 80 million.

Dato’ Loh emphasized, “Our dedication to completing the project remains unwavering, echoing our commitment to our customers, particularly within the framework of the Rumah Selangorku initiative. To our fellow Selangorians, Sentoria stands firm in fulfilling our pledge, ensuring that your homes will be delivered to you soon.” The endorsement from KPKT not only accelerates the completion of existing projects but also clears the path for Sentoria to resume development on previously postponed projects.

Elaborating on Sentoria’s parallel turnaround development, Dato’ Loh gladly confirmed the successful submission of Sentoria’s proposals to Bursa Malaysia which contain two inter-linked initiatives namely the Share Consolidation and the Redeemable Convertible Bonds (“RCB”). “These proposals aim to showcase Sentoria’s commitment to revitalizing its capital structure and enhancing liquidity. This, in turn, will send a positive signal to the market, affirming Sentoria’s capability to successfully conclude ongoing project developments and secure funding for future projects,” concluded Dato’ Loh.

 

About Sentoria

Empowering Dreams, Building Value: Sentoria Homes by Sentoria Group Berhad

Where Dreams Meet Affordability. Build a Better Tomorrow.

Sentoria Homes represent the embodiment of affordability and investment potential, brought to you by Sentoria Group Berhad. Formerly known as Sentoria Development Sdn Bhd, our journey since 2000 has transformed us from a contractor into a pioneer in providing quality, affordable housing solutions, for those seeking quality homes at affordable prices.

Sentoria Homes invites you to be a part of our transformative journey, where every investment contributes to shaping better lives and building enduring value. Join us in creating communities where dreams meet affordability, and investments yield not only financial returns but also make a positive impact on lives. Sentoria Homes – where affordability and investment wisdom converge.

 

Build a Better Tomorrow

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For investor relations, please contact:

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Note: This press release contains forward-looking statements that are subject to risks and uncertainties. Actual outcomes may differ materially from those expressed or implied in the forward-looking statements. Please refer to the Company’s filings with Bursa Malaysia so as to manage risks and uncertainties that may affect the Company’s future performance at the link below:

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=143862&name=EA_GA_ATTACHMENTS

APPENDIX: MORIB BAY RESORT CITY CURRENT ONGOING PROJECT