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Wednesday, January 19, 2011

Sycal Ventures unit signs property JV

Sycal Ventures Bhd's wholly-owned unit, Sycal Properties Sdn Bhd, has signed a joint venture agreement with Global Net Communication Sdn Bhd.

In a filing to Bursa Malaysia today, Sycal said the companies aimed to jointly develop three plots of land in Kuala Lumpur into a high-end residential villas with estimated gross development value of RM70 million.

It said the development would contribute positively to the construction order book of Sycal Group.

By Bernama

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