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Date : 01 June 2000

Ekovest to hold 49% stake in project firm


TypeReply to query
Reply to Query Letter by KLSE reference IDKM-000531-39997
SubjectEkovest to hold 49% stake in project firm

Contents :

Ekovest has entered into a management agreement with Danga Bay Sdn Bhd [DBSB] and Pembinaan Limbongan Setia Berhad [PLSB], whereby Ekovest together with PLSB will provide management, planning, consultancy and project management services to DBSB who is undertaking a mixed development known as the Danga Bay Waterfront project in Johor.

Ekovest has agreed with PLSB to incorporate a joint venture company known as Limbongan - Ekovest Management Sdn Bhd [LEM] to undertake the above services for DBSB. Documents for the incorporation of LEM has been submitted to the Registrar of Companies and is expected to be incorporated by next week. Ekovest will take up 49% stake in LEM and PLSB will take the remaining 51%.

Announcement Info

Stock Name EKOVEST    
Date Announced1 Jun 2000  
CategoryGeneral Announcement
Reference NoEE-000531-59825


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