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Tuesday, December 22, 2009

Malaysia Pacific looks for more partners for RM4bil project

KUALA LUMPUR: Malaysia Pacific Corporation Bhd is eyeing more joint-venture projects to fund its RM4 billion development project, namely the Asia Pacific Trade & Expo City (APTEC) and LakeHill Resort City.

Located within Iskandar Malaysia, the project is due for construction next year, said President and Chief Executive Officer Bill C.P Ch'ng.

APTEC, which MPC will help to manage, will be the sourcing and distribution centre for goods from around the region, particularly from China, India and Asean countries and it is expected to be completed within four years.

The township of LakeHill meanwhile is expected to be ready in eight years.

"We are in the final stage of getting clearance from the authorities," he said.

The company, he said recently signed a memoranda of understanding with its Thai partners.

"More announcements on joint-ventures will be made next year," he told reporters after the company's annual general meeting here On Tuesday.

The company is also in talks with several government bodies and private international firms from China and Singapore for the joint-venture purposes.

By Bernama

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