Date : 27 January 2017

MEMORANDUM OF UNDERSTANDING MEMORANDUM OF UNDERSTANDING ("MoU") BETWEEN MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB"), WONDROUS VISTA DEVELOPMENT SDN BHD AND BANDAR MALAYSIA SDN BHD

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
MEMORANDUM OF UNDERSTANDING ("MoU") BETWEEN MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB"), WONDROUS VISTA DEVELOPMENT SDN BHD AND BANDAR MALAYSIA SDN BHD

We refer to the announcements dated 16 June 2016 and 26 January 2017 in relation to the above matter.

MRCB is pleased to voluntarily announce that it has on 3 January 2017 entered into a non-binding MoU with Wondrous Vista Development Sdn Bhd and Bandar Malaysia Sdn Bhd to collaborate with each other to develop an integrated transportation hub terminal at Bandar Malaysia.

Bandar Malaysia Sdn Bhd is the 100% shareholder of Omega Cartel Sdn Bhd which in turn is the registered owner of the 486 acres of land at Bandar Malaysia, out of which 60 acres have been earmarked for the purpose of an integrated transportation terminal ("Transportation Hub").

MRCB together with Wondrous Vista Development Sdn Bhd and Bandar Malaysia 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.

This announcement is dated 27 January 2017.

 






Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 27 Jan 2017
Category General Announcement for PLC
Reference Number GA1-27012017-00034