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Wednesday, March 17, 2010

Malton unit in RM2.5b pact with Bukit Jalil

MALTON Bhd wholly-owned subsidiary Pioneer Haven Sdn Bhd has entered into a joint development agreement with Bukit Jalil Development Sdn Bhd for the development of a mixed commercial and residential project.

The project has an estimated gross development value of RM2.5 billion.

In a filing to Bursa Malaysia today, it said the proposed development will be carried out and completed in phases over a 10-year period.

Malton said the joint venture was in line with the company's expansion plan of its core business activities of property development, construction and property investment.
It said the proposed joint venture is expected to contribute to the medium and long-term profitability of the company.

By Bernama

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