started as a construction company with involvment in a few national mega projects including the Petronas Twin Towers
, National Sports Complex, KLIA, LRT and Malaysia-Singapore 2nd crossing bridge.
Completed projects by Ho Hup
so far are Sri Rakyat Apartment
, Jalil Damai
, Jalil Sutera
and The Ritz.
Despite the developer vast arrays of experience, it is currently facing financial difficulties as it is in debt. Therefore, the company is focusing on its property development business to generate faster income apart from its corporate restructuring. Under the corporate restructuring, the company is focusing on capital reduction, capital injection and selling non-core land assets.
There were a few speculations regarding this project previously. The speculation started when Ho Hup
proposed to sell the land which to Permata Juang (M) Sdn Bhd
, a subsidiary of Magna Prima Bhd
. One of the directors of Magna Prima
, Datuk Lye Ek Seang, is also a director of Ho Hup
. Due to the conflict of interest, the shareholders did not support the land disposal plan to Magna Prima