O&C Resources to develop Kuantan project with RM166m GDV

PETALING JAYA: O&C Resources Bhd's (OCR) 90%-owned subsidiary O&C Properties (Kuantan) Sdn Bhd is teaming up with Yayasan Pahang to undertake a mixed development project known as "PRIYA Scheme" in Kuantan with an estimated gross development value of RM166 million.
Sitting on 100 acres of land, the project consists of commercial development and an affordable housing scheme. It is expected to commence in the the first half of 2018.
O&C Properties and Yayasan Pahang will have an equal stake in the joint venture company.
OCR said the joint venture is in line with the group's strategy to grow and diversify its business operations to turn profitable as well as to balance its income stream from non-traditional sources.
The counter was up by 1.5 sen to close at 57.5 sen yesterday, with some 194,300 shares changing hands. It has a market capitalisation of RM147.85 million.