KUALA LUMPUR: Sanbumi Holdings Bhd has proposed to change its name to Iconic Worldwide Bhd for a better representation of its current nature of business. “In Iconic Group we completed property development projects worth approximately RM500mil in gross development value,” he said. “The change of name to Iconic Worldwide will be the first step of our rebranding exercise as we work towards turning the company profitable in the near future,” he said. To recap, Sanbumi’s wholly owned subsidiary Sanbumi Sawmill Sdn Bhd had on April 2, 2019 signed a joint venture agreement with Iconic Group’s wholly owned subsidiary Iconic Development Sdn Bhd, to develop a freehold land in Penang. On April 1, Sanbumi entered into a hotel management agreement with Lucky 888 Sdn Bhd, an affiliated company to Iconic Group, for the provision of services to Iconic Hotel.

Source: The Star May 02, 2019 15:22 UTC