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KUALA LUMPUR (Oct 20): Bintai Kinden Corp Bhd is partnering with Vista Springs Development Sdn Bhd to jointly develop a project with an estimated gross development value (GDV) of RM350 million in Melaka.
The development, located on a 4.74-acre (1.98ha) piece of freehold land, will be for hospitality, residential and/or commercial purposes, subject to proper due diligence and feasibility studies to be carried out prior to a binding arrangement between the parties.
In a filing with Bursa Malaysia yesterday, Bintai Kinden said its wholly-owned subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd had inked a memorandum of understanding with Vista Springs to establish a collaboration between the parties to join their skills, experience and resources to work together to develop the premises for mutual interest and benefits to the communities.
Bintai Kinden said the estimated GDV of the proposed development is expected to contribute positively towards the future earnings of the group.
This article first appeared in The Edge Financial Daily, on Oct 20, 2017.
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