IJM Properties Sdn Bhd and Suria Capital Holdings Berhad has on 29 January 2008 entered into a Memorandum of Understanding (“MoU”) to jointly develop a 16-storey condominium (Suria Vista) and an 11-storey boutique hotel under Zone 1 of the piece of land within the port area at Jalan Tanjung Lipat, Kota Kinabalu in Sabah, which is being developed into a tourism related mixed development known as the Jesselton Waterfront Project.

The joint development will be carried out by a 50:50 joint venture company to be incorporated by Suria Bumiria Sdn Bhd and IJM Properties Sdn Bhd.  The MoU is effective for a period of three (3) months. 

IJM Properties Sdn Bhd is a wholly-owned subsidiary of the Company, and Suria Bumiria Sdn Bhd is wholly-owned subsidiary of Suria Capital Holdings Berhad.