NWP in pacts with Listari Marina, Chinese company

PETALING JAYA: NWP Holdings Bhd has been appointed the main contractor by property developer Listari Marina (MM2H) Sdn Bhd (LMSB) for the proposed development of 160 units of serviced suites in Pekan Klebang, Malacca.
In a statement yesterday, NWP said, under the memorandum of understanding (MoU) it signed with LMSB, it is required to seek financing on its own to carry out the works for the project in Pekan Klebang.
NWP has also entered into an MoU with SCEGC Installation Group Co Ltd to jointly develop a strategic partnership for any construction project in Malaysia. SCEGC is a mechanical and engineering installation company in China.
Under the MoU, any construction project won by the SCEGC and NWP partnership will be conducted through a joint venture which will be limited strictly to the construction of development of property, except as otherwise specified, NWP added.
The loss-making timber and timber products group said the MoUs would allow it to explore additional businesses that may provide extra sources of income and contribute positively to its future financial performance.