Date : 16 June 2016

MEMORANDUM OF UNDERSTANDING MEMORANDUM OF UNDERSTANDING (MoU) BETWEEN MRCB, WONDROUS VISTA DEVELOPMENT SDN BHD AND IWH CREC SDN BHD

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
MEMORANDUM OF UNDERSTANDING (MoU) BETWEEN MRCB, WONDROUS VISTA DEVELOPMENT SDN BHD AND IWH CREC SDN BHD

MRCB is pleased to announce that it has today entered into a  non-binding MoU with Wondrous Vista Development Sdn Bhd and IWH CREC Sdn Bhd to collaborate with each other to develop an integrated transportation terminal at Bandar Malaysia.

IWH CREC Sdn Bhd will be acquiring 60% equity interest in Bandar Malaysia Sdn Bhd whilst Minister of Finance Incorporated will hold the remaining 40%. Bandar Malaysia Sdn Bhd vide its wholly owned subsidiary shall be the registered owner of 486 acres of land at Bandar Malaysia, out of which 55 to 60 acres have been earmarked for the integrated transportation terminal (“Transportation Hub”).

MRCB together with  Wondrous Vista Development Sdn Bhd and IWH CREC Sdn Bhd intend to form  a strategic alliance for the purpose of acquiring, constructing, developing and operating the Transportation Hub.

The MoU will remain valid for a period of 6 months or may be terminated at any time by mutual consent.

The announcement is dated 16 June 2016.

 






Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 16 Jun 2016
Category General Announcement for PLC
Reference Number GA1-16062016-00054