FOR IMMEDIATE RELEASE
Sky Resort International Limited Announces Expansion Program of its Majority-owned Subsidiary, Eurostar Epitome Sdn Bhd
Malaysia (August 27, 2018) – Sky Resort International Limited. (the "Company" or "SKY") (OTCMKTS:SKYL) is pleased to announce that Eurostar Epitome Sdn Bhd (Eurostar), its majority-owned subsidiary, will embark on an aggressive expansion program to offer comprehensive construction and development services in Malaysia.
Sky Resort International Limited:
Sky Resort International Limited is a company registered in USA. Its common shares are traded in OTC Markets with the trading symbol SKYL. Through its subsidiaries, the Company aims to become a major player in the construction industry in South-east Asia.
Eurostar Epitome Sdn Bhd:
Incorporated in 2017 and 80% owned by SKY, Eurostar is eyeing for large scale construction projects in Sabah, Malaysia. It has the capability to provide full package service to the development of office buildings, warehouse and apartment complex and infrastructure projects. The service include design, cost estimate, technical advice and construction work and overall project management. Capitalizing on the knowledge and experience of the directors and senior management team of SKY, its holding company, Eurostar is also able to provide financial and marketing planning consultancy to project owners.
Eurostar believes that there is large potential for growth in the construction industry in Sabah, Malaysia. In the Kota Kinabalu area where Eurostar is setting up its initial presence, the value of construction work in the last quarter of 2017 recorded a growth rate of 7.7%, year-to-year, to RM35.1 Billion. The growth was propelled by construction work in the private sector which accounted for nearly two-third of the total. The other major contributor was civil engineering works which accounted for 18.3% of the total.
With such favourable growth potential in the construction industry, Eurostar aims to secure at least 5 large scale contracts in the next 2 years. This will be achieved by expanding its presence in other major cities in Malaysia, strengthening further its management and engineering teams and increasing its marketing and promotion budget.
Luxury Residences – Serviced Suites
Luxury Residences – Shopping Mall-Serviced Suites
Mixed Development – Shopping Mall-Hotel-Serviced Suites
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate net revenue due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 and in its Reports on Forms 8-K filed with the Securities and Exchange Commission ("SEC").