KUALA LUMPUR: Malaysia Pacific Corp (MPC) and Beijing Construction Engineering Co. Ltd are planning to undertake the construction and financing of two property projects in Iskandar Malaysia, Johor.

MPC said on Monday, March 29 its subsidiary LakeHill Resort Development Sdn Bhd and Beijing Construction had signed a letter of intent last Friday to to evaluate the development and financing of Lakehill Resort City and Aptec City.  

Once Beijing Construction had evaluated the plans, the detailed terms and conditions of contract or contracts would be signed in the presence of both governments, it said.

It added Beijing Construction, which is one of the largest state enterprises of China, is among the largest construction and engineering companies in China and it has undertaken many major construction projects in China.

MPC said said the letter of intent would map out the basis and the roles of the parties in pursuing the project, with a view to enable Beijing Construction to hold discussions with third parties such as Iskandar Regional Development Authority (IRDA), Johor government and other relevant ministries.

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