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Tuesday, July 14, 2009

Malaysia Pacific in talks on office tower venture

Malaysia Pacific Corp Bhd (MPC) has denied that it is in talks with the Qatar Investment Authority for the redevelopment of Wisma MPL in Kuala Lumpur.

In a statement to Bursa Malaysia yesterday, it said that it is in negotiation with a foreign development fund comprising local and Middle Eastern parties on a 51-49 per cent joint venture, to build a proposed new 50-storey office tower on its existing plot of land at Jalan Raja Chulan, Kuala Lumpur.

MPC expects the joint venture to bring immediate and long-term benefits if the deal is concluded.

By Business Times

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