Malton teams up with HK-listed Nan Hai to bid for Taipei project

PETALING JAYA: Malton Bhd together with Hong Kong Exchange-listed Nan Hai Corp Ltd jointly submitted a bid to the Taipei city authorities on Oct 1, 2018 for the construction of the superstructure above the airport express train station located near the main train station.
Nan Hai holds 80% interest in the bid and Malton the remaining 20%. Nan Hai's announcement to the exchange on Monday, however, did not name Malton. It only stated that the 20% interest in the project would be held by an independent third party.
The project involves the development of a landmark high-rise multipurpose complex comprising hotel, retail and prime office space above the airport express train station that has a base area of about 31,700 sq m. This complex will have direct access to Taipei's express rail service station to Taoyuan International Airport.
The bid is subject to approval, and an announcement on its status will be made accordingly.
Nan Hai is mainly engaged in culture and media services, property development and enterprise cloud services.
On Bursa Malaysia today, Malton was down half a sen to 52.5 sen on volume of 7.7 million shares.