SYMPHONY Life Bhd has proposed a private placement to raise up to RM23.53 million by issuing 107.42 million new shares, representing 10% of its enlarged share base.
The proceeds will primarily fund the Lembah Ledang mixed-development project in Bukit Damansara – a RM5.3 billion joint venture with Permodalan Nasional Bhd (PNB) and JBiz Development Sdn Bhd.
The JV, PJS Damansara Sdn Bhd, is equally owned by the three partners.
The development is pending approval from Kuala Lumpur City Hall, with construction expected to begin in 3Q 2026.
In a separate filing, executive chairman Chin Jit Pyng has resigned with immediate effect to pursue personal interests.
Symphony Life shares closed 2.27% lower at 21.5 sen, valuing the company at RM154.04 million. —TMR
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