Yong Tai Berhad Enters Strategic Joint Venture with Taghill Land,
Accelerating Completion of The Dawn @ Impression City Melaka
KUALA LUMPUR, APRIL 2025 – Main Market listed Yong Tai Berhad (“YTB” or “Group” or “Company”) today announced a strategic joint venture agreement between its wholly-owned subsidiary, YTB Impression Sdn Bhd (“YTBI”), and Taghill Land Sdn Bhd (“Taghill Land”), a wholly-owned subsidiary of Taghill Holdings Berhad.
This collaboration grants Taghill Land exclusive rights to develop two blocks of serviced suites, collectively known as The Dawn @ Impression City Melaka, strategically situated in the heart of Melaka.
Under the terms of the joint venture agreement, Taghill Land will assume full responsibility for the planning, execution, management, and marketing of The Dawn, comprising 648 units of serviced suites with an estimated gross development value (GDV) of RM183.31 million. In return, Yong Tai immediately unlocks RM28 million, significantly enhancing its cash flow position without incurring further capital risks.
The Dawn @ Impression City Melaka, located within Yong Tai’s premier integrated development in Melaka, has already completed piling and a five-storey car park podium structure, providing Taghill Land with a ready platform to expedite construction. With this partnership, the project is expected to commence in Q3 2025 and achieve completion by Q4 2027.
Beyond the immediate cash inflow, the joint venture also presents attractive upside potential for Yong Tai. Should the project’s profit before tax (PBT) exceed RM11 million (after deducting Yong Tai’s entitlement), Yong Tai will further benefit from a 40% share of any additional profits.
Commenting on the strategic nature of this collaboration, Datuk Wira Boo Kuang Loon, Chief Executive Officer and Executive Director of Yong Tai Berhad, said, “This joint venture with Taghill Land represents a decisive step in enhancing Yong Tai’s financial strength and reducing our construction risk exposure. Taghill Land’s proven expertise in property construction ensures that The Dawn will be completed swiftly, allowing us to efficiently monetise our previous investments while positioning Yong Tai for sustainable long-term growth.”
Taghill Group, already recognised for its reliable construction and development credentials through previous successful collaborations with Yong Tai including The Apple and Courtyard by Marriott Melaka hotel is ideally suited to drive The Dawn project forward, thereby reducing the execution risks for Yong Tai significantly.
This strategic move enables Yong Tai to sharpen its focus and allocate resources towards core flagship projects, including the Impression U-Thant development in Kuala Lumpur and the Encore Melaka theatre, both of which continue to show strong traction post-pandemic.
Melaka’s robust tourism recovery, bolstered by enhanced connectivity initiatives such as new Scoot Airline flights and Genting Dream Cruise voyages from Singapore, continues to support strong demand for property and hospitality developments in the region. This joint venture strategically positions Yong Tai to benefit directly from the ongoing revitalisation of Malaysia’s tourism sector.
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