logo
Sunsuria launches foundation focused on education, community and environmental sustainability

Sunsuria launches foundation focused on education, community and environmental sustainability

The Star07-05-2025

Education Minister Fadhlina Sidek (centre) together with Ter (sixth from right) and other guests, watering plants at the groundbreaking ceremony for SJK (C) Sunsuria and the Bandar Sunsuria education hub.
SHAH ALAM: Sunsuria Bhd is taking a significant step forward in advancing its environmental, social and governance commitments with the launch of Sunsuria Foundation – focused on driving meaningful contributions across three core pillars: education, community and environmental sustainability.
'Since founding Sunsuria Bhd in 1989, we have grown into a purpose-driven organisation committed to shaping a brighter, more sustainable future,' said Sunsuria Bhd founder and executive chairman Tan Sri Ter Leong Yap.
'The launch of the Sunsuria Foundation is a natural extension of this commitment to society.'
To commemorate the launch, the foundation has announced a scholarship for students of Xiamen University Malaysia (XMUM), building on a long-standing partnership through which Sunsuria has contributed a cumulative total of RM12mil to date.
Beyond financial support, Sunsuria has also invested significant time, effort and manpower to support the establishment and ongoing development of the university — a testament to its enduring commitment to education.
'We are deeply grateful to Sunsuria for their generous support and longstanding relationship with Xiamen University Malaysia,' said Xiamen University Malaysia president Prof Dr Wang Ruifang.
'Sunsuria's continued commitment has played a supportive role in our journey to nurture and empower the next generation of leaders.'
Prior to the launch, Sunsuria had already begun building the foundation for its Education pillar through a range of community-focused initiatives. These include scholarships for students of Concord College International School, the distribution of school supplies to preschool children from SK Kota Warisan and support for educational initiatives at Kuen Cheng High School, Pin Hwa High School, Hin Hua High School and SM Tengku Ampuan Rahimah.
Sunsuria has also supported education through book donations, health-related assistance, scholarship awards and career development opportunities for young talents. In addition, Sunsuria is contributing to the construction of SJK (C) Sunsuria in Sepang.
Sunsuria has also extended support to local communities and environmental initiatives under its community focus area. To date, RM1.31mil has been contributed towards healthcare, children's homes, elderly care and disaster relief. These efforts include the donation of oxygen machines and face masks during the Covid-19 pandemic in response to critical shortages, as well as the community food drive, youth development sponsorships and contributions towards building funds.
In support of environmental sustainability, Sunsuria has planted over 5,000 trees in Sunsuria City.
The foundation reflects Sunsuria's commitment to meaningful, purpose-driven contributions across education, community wellbeing and environmental sustainability. It aims to broaden its impact and make a lasting positive contribution to society through focused, sustained efforts in these key areas.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US senators press antitrust enforcers over Rocket-Redfin deal
US senators press antitrust enforcers over Rocket-Redfin deal

The Star

time8 hours ago

  • The Star

US senators press antitrust enforcers over Rocket-Redfin deal

FILE PHOTO: Screens display the logos of Rocket Companies (RKT), the parent company of Rocket Mortgage and Quicken Loans, in Times Square during the company's IPO on the New York Stock Exchange (NYSE) in New York City, New York, U.S., August 6, 2020. REUTERS/Mike Segar/File Photo (Reuters) -A group of U.S. Senators have demanded that federal antitrust enforcers explain why they did not seek to block Rocket Companies' $1.75 billion acquisition of real estate listing platform Redfin, saying the deal could raise costs for homebuyers. U.S. senators including Elizabeth Warren and Cory Booker, the top Democrats on the Senate banking and antitrust committees, wrote to the U.S. Department of Justice and Federal Trade Commission on Wednesday asking why they had not challenged the merger announced in March. Redfin shareholders are scheduled to vote on whether to approve the deal on Wednesday. Rocket's announcement that it plans to acquire mortgage servicer Mr. Cooper for $9.4 billion only raises further concerns about consolidation in the homebuying industry, said the group, which included Senator Bernie Sanders of Vermont, an Independent, and Democratic Senators Mazie Hirono of Hawaii and Tina Smith of Minnesota. "These deals would combine the second-largest mortgage originator, the largest mortgage servicer, and the third-most-visited real estate brokerage website in the United States, into a massive, vertically integrated conglomerate that may reduce choice and raise prices for American families in the housing market," the lawmakers said. A spokesperson for Rocket did not immediately respond to a request for comment. DOJ antitrust division head Gail Slater and FTC Chairman Andrew Ferguson have said they will not get in the way of lawful mergers, but said they will scrutinize deals for anticompetitive effects that hit consumers or workers, in an approach Slater dubbed "America First antitrust." The Redfin acquisition could allow Rocket to steer homebuyers using Redfin towards its real estate agents and mortgage offerings, and leverage data about user behavior to raise mortgage rates, the senators said. Average home prices are more than 50% above where they were in 2019, before the COVID-19 pandemic, and expected to continue rising this year. The rate for 30-year fixed-rate mortgages was 6.89% last week, reflecting pressure on the U.S. bond market from Congress' consideration of a massive tax and spending bill. (Reporting by Jody Godoy in New York; Editing by Christopher Cushing)

Virgin Australia launches US$442.8mil IPO, term sheet shows
Virgin Australia launches US$442.8mil IPO, term sheet shows

New Straits Times

time14 hours ago

  • New Straits Times

Virgin Australia launches US$442.8mil IPO, term sheet shows

KUALA LUMPUR: Bain Capital-owned Virgin Australia is looking to return to the stock market with a A$685 million (US$442.78 million) initial public offering, according to a term sheet seen by Reuters on Wednesday. Bain will sell about 30 per cent of the airline at a fixed price of A$2.90 per share, the term sheet said. Bain declined to comment on the plan. The private equity group will sell 236.2 million shares in the IPO to value the company at A$2.32 billion on a fully diluted basis, the term sheet showed. Bain's shareholding will drop from about 70 per cent to 39.4 per cent following the sale, while Qatar Airways will retain a 23 per cent stake, according to the term sheet. Investors had lodged indicative bids before book building began that would cover the size of the deal, a bookrunner's message sent on Wednesday showed. Virgin will have an enterprise value of A$3.6 billion, taking into account its net debt of A$1.31 billion. The airline's IPO is one of the most closely watched deals in Australia in years because of its strong reliance on the country's consumer sector. Virgin has pared back its international business to concentrate mainly on domestic travel, but is due to resume some long-haul flights through its Qatar partnership. Virgin has a domestic market share of 34.4 per cent, lagging its major rival Qantas which had 37.5 per cent as of March, according to an Australian Competition and Consumer Commission (ACCC) report. The deal will be the largest IPO in Australia this year after DigiCo Infrastructure REIT raised A$2 billion in December. DigiCo's shares have traded down about 30 per cent since its debut. Institutional bookbuilding will close on Thursday and Virgin's shares are due to start trading on the Australian Securities Exchange (ASX) on June 24, the term sheet showed. The IPO is being carried out through a front-end book building process, which means investor bids are taken ahead of the prospectus being reviewed and approved by Australian regulators. Virgin's IPO has been in the making for more than two years but was put on hold after investment banks were appointed due to volatile global financial markets during 2023. Bain bought Virgin for A$3.5 billion including liabilities five years ago after it was placed in voluntary administration, the closest Australian equivalent to Chapter 11 bankruptcy. Virgin collapsed in 2020 following tough COVID-19 restrictions that damaged the global airline industry.

Virgin Australia launches $442.8 million IPO, term sheet shows
Virgin Australia launches $442.8 million IPO, term sheet shows

The Star

time15 hours ago

  • The Star

Virgin Australia launches $442.8 million IPO, term sheet shows

A Virgin Australia Airlines plane is seen at Kingsford Smith International Airport in Sydney, Australia, March 21, 2020. REUTERS/Loren Elliott/File Photo BAIN Capital-owned Virgin Australia is looking to return to the stock market with a A$685 million ($442.78 million) initial public offering, according to a term sheet seen by Reuters on Wednesday. Bain will sell about 30% of the airline at a fixed price of A$2.90 per share, the term sheet said. Bain declined to comment on the plan. The private equity group will sell 236.2 million shares in the IPO to value the company at A$2.32 billion on a fully diluted basis, the term sheet showed. Bain's shareholding will drop from about 70% to 39.4% following the sale, while Qatar Airways will retain a 23% stake, according to the term sheet. Investors had lodged indicative bids before book building began that would cover the size of the deal, a bookrunner's message sent on Wednesday showed. Virgin will have an enterprise value of A$3.6 billion, taking into account its net debt of A$1.31 billion. The airline's IPO is one of the most closely watched deals in Australia in years because of its strong reliance on the country's consumer sector. Virgin has pared back its international business to concentrate mainly on domestic travel, but is due to resume some long-haul flights through its Qatar partnership. Virgin has a domestic market share of 34.4%, lagging its major rival Qantas which had 37.5% as of March, according to an Australian Competition and Consumer Commission (ACCC) report. The deal will be the largest IPO in Australia this year after DigiCo Infrastructure REIT raised A$2 billion in December. DigiCo's shares have traded down about 30% since its debut. Institutional bookbuilding will close on Thursday and Virgin's shares are due to start trading on the Australian Securities Exchange (ASX) on June 24, the term sheet showed. The IPO is being carried out through a front-end book building process, which means investor bids are taken ahead of the prospectus being reviewed and approved by Australian regulators. Virgin's IPO has been in the making for more than two years but was put on hold after investment banks were appointed due to volatile global financial markets during 2023. Bain bought Virgin for A$3.5 billion including liabilities five years ago after it was placed in voluntary administration, the closest Australian equivalent to Chapter 11 bankruptcy. Virgin collapsed in 2020 following tough COVID-19 restrictions that damaged the global airline industry. Australia's benchmark S&P/ASX200 index has gained 3.77% so far in 2025. - Reuters

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store