Malaysia Pacific Corp signs JV to develop 13 parcels of land in Plentong, Johor
12 Jul 2017 / 20:33 H.
PETALING JAYA: Malaysia Pacific Corp Bhd's (MPC) units have entered into a joint venture agreement with Chun Fu Development Sdn Bhd to develop 13 parcels of land in Plentong, Johor Bahru.
Taman Bandar Baru Masai Sdn Bhd and Lakehill Resort Development Sdn Bhd have agreed to work with Chun Fu to co-operate and work together exclusively to incorporate a joint venture company in Malaysia.
MPC expects to hold up to a 35% interest in the joint venture, while Chun Fu will hold the rest.
All profits, costs and liabilities will be shared according to the shareholding ratio.
The company's share price closed up one sen to 12 sen yesterday, for a market capitalisation of RM34.5 million.