“Sunsuria boosts its stake in KL City Gateway to 61% with a RM21.46 million deal, strengthening its role in the Kampung Sungai Baru redevelopment.”
Kuala Lumpur, 11th December 2025, 12.54pm – Sunsuria Bhd is increasing its ownership in KL City Gateway Sdn Bhd (KLCG)—the developer behind the major Kampung Sungai Baru redevelopment—to 61%, up from 20%.
In a filing with Bursa Malaysia on Dec 10, the group announced that it has entered into a sale and purchase agreement to acquire an additional 41% equity interest in KLCG for RM21.46 million. The shares will be purchased from four existing stakeholders: Suez Capital Sdn Bhd, Scenic Starhill Sdn Bhd, Yedor Holdings Sdn Bhd, and Yeoh Ah Tu.
Sunsuria first acquired a 20% stake in KLCG in December 2024.
Following the latest acquisition, Sunsuria has also executed a new shareholders’ agreement with the remaining shareholders, Transworld Equity Sdn Bhd and Suez Capital, who together own the remaining 39% of KLCG. The agreement outlines the governance structure, roles, and obligations of all parties.
Under the deal terms, Sunsuria will provide financial support to KLCG, which includes shareholder advances and a corporate guarantee of up to RM387 million.
KLCG is undertaking the redevelopment of 9.66 acres in Kampung Sungai Baru, adjacent to Kampung Baru. Phase 1, covering 7.95 acres, will be a large-scale mixed-use integrated development with a gross development value (GDV) of RM2.75 billion. Planned components include residential and serviced apartments, office suites, retail offerings, and public amenities.
Phase 2, which spans 1.71 acres, is still at the planning and approval stage.
Sunsuria said the enlarged stake is expected to generate progressive earnings contributions over the duration of Phase 1 and will enhance the group’s future development pipeline. It added that the supplementary shareholder advances will finance working capital requirements, while the corporate guarantee will support banking facilities that KLCG has yet to secure.
The acquisition has been classified as a related-party transaction due to the involvement of Sunsuria’s executive chairman and major shareholder Tan Sri Ter Leong Yap, his daughter Ter Shin Nie, and his brother Datuk Ter Leong Hing, who holds directorships and shareholdings in several of the vendor companies.
Sunsuria’s shares closed unchanged at 44.5 sen on Wednesday, valuing the company at RM398.7 million. The stock has declined more than 8% year-to-date.
