Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Monday, October 1, 2012

IOI Corp moves closer towards China property plan

KUALA LUMPUR: IOI Corporation Bhd has moved closer towards its plan to venture into property development in China after getting the government's approval to set up a unit in Xiamen.

IOI Corp said its 99.8% owned Palmy Max Ltd had on Sept 30 received a certificate of approval to set up a unit IOI (Xiamen) Properties Co. Ltd in Xiamen.

IOI (Xiamen) Properties was incorporated on Sept 27 with a total registered capital of US$250mil and is currently dormant.

"IOI (Xiamen) Properties is intended to undertake a mixed-use development in Jimei District, Xiamen, Fujian Province in China," it said.

By The Star

No comments: