'What we promise, we deliver': Sunway founder on building a legacy of trust

Tycoon seeks to make conglomerate a major gateway from S'pore to Malaysia

- Chor Khieng Yuit Senior Business Correspondent

Just across the Causeway, Malaysian conglomerate Sunway Group is slowly adding to the skyline of the bustling Johor Bahru city.

The group, founded by Tan Sri Jeffrey Cheah in 1974, is partnering Malaysia's Mass Rapid Transit Corporation (MRT Corp) to build a mixed-use project worth over RM4 billion (S$1.2 billion) - right next to the JB terminus of the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link. And just 3km away, the Sunway Majestic, a 46-storey apartment building, was also launched in early October, attracting Singaporeans and Malaysian buyers who work in the Republic.

Speaking to the Singapore media over lunch in Kuala Lumpur on Oct 22, Mr Cheah said these two developments will complement Sunway City Iskandar Puteri near the Second Link, an 810ha township within the Johor-Singapore Special Economic Zone. The idea, he said, is to make Sunway “a major gateway from Singapore to Malaysia at both the Causeway and the Second Link”.

Now worth about US$3 billion (S$3.9 billion) and ranked Malaysia's ninth richest according to Forbes, Mr Cheah's cross-border connection started almost half a century ago, when he opened a small office in Senoko Drive in 1976.

From those early beginnings, Sunway has quietly expanded its footprint in Singapore, partnering Hoi Hup Realty and Sing Holdings in residential projects.

In September, it acquired MCL Land from Hongkong Land, and completed the deal on Oct 31, lifting its total investments in Singapore to about RM14.9 billion.

The Singapore operations will be renamed Sunway MCL and will serve as Sunway's platform for regional growth.

The 80-year-old tycoon said he had been deliberate about growing Sunway's presence in Singapore only after building a strong foundation at home.