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KUALA LUMPUR (Oct 16): Ornamental fish breeder and trader Xian Leng Holdings Bhd will participate in constructing a 500-unit multistorey flat at Ulu Melaka in Langkawi, Kedah under the 1Malaysia People’s Housing Programme (PR1MA).
In a filing with Bursa Malaysia yesterday, Xian Leng said last Monday, it entered into a memorandum of understanding (MoU) with TH Mestika Sdn Bhd for the proposed project.
“The MoU’s purpose is to set forth the general understanding of Xian Leng’s intention to participate in the construction of the project together with TH Mestika,” it added. TH Mestika is the project's subcontractor.
Under the MoU, TH Mestika will be responsible for the planning and designing of the project as well as providing machinery and equipment for construction works, while Xian Leng will provide resources and services for construction works.
The MoU will be effective for 12 months. During the MoU’s duration, neither party shall discuss, negotiate or provide information to any third party.
This article first appeared in The Edge Financial Daily, on Oct 16, 2018.
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