KUALA LUMPUR, Jan 23 (Bernama) -- Malaysian Resources Corporation Bhd’s (MRCB) wholly owned subsidiary, Country Annexe Sdn Bhd has entered into a memorandum of agreement (MOA) with Ipoh Sentral Sdn Bhd (ISSB) to develop Ipoh Sentral.
In a filing with Bursa Malaysia, MRCB said the proposed joint venture, with an estimated gross development value of RM6.25 billion, is a transit-oriented development on a piece of land in Ipoh, Perak.
“It will not only serve as a modern transportation hub connecting various modes of transportation but will also enhance the quality of life of the people through the integrated development,” the company said.
MRCB also noted that the MOA is not expected to have any material effect on the net assets and earnings of the company and its group for the financial year ending Dec 31, 2025.
ISSB is a joint venture company established by Railway Assets Holding Sdn Bhd, a wholly owned subsidiary of Railway Assets Corporation, and Silver Smart Sdn Bhd, a wholly owned subsidiary of the State Secretary, Perak (Incorporated).
-- BERNAMA
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