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Tuesday, March 30, 2010

MPC, Beijing Construction planning projects in Iskandar

PETALING JAYA: Malaysia Pacific Corp Bhd (MPC) and Beijing Construction Engineering Co Ltd are planning to undertake the construction and financing of two property projects in Iskandar Malaysia, Johor.

In a statement to Bursa Malaysia, MPC said its subsidiary LakeHill Resort Development Sdn Bhd and Beijing Construction had last Friday signed a letter of intent to evaluate the development and financing of Lakehill Resort City and Aptec City.

It said once Beijing Construction had evaluated the plans, the detailed terms and conditions of contract or contracts would be signed in the presence of both governments.

It added that Beijing Construction, which was one of the largest state enterprises of China, was among the largest construction and engineering companies in China where it had undertaken many major construction projects.

MPC said the letter of intent would map out the basis and the roles of the parties in pursuing the project, with a view to enabling Beijing Construction to hold discussions with third parties such as the Iskandar Regional Development Authority, Johor government and other relevant ministries.

By The Star

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