KUALA LUMPUR: Malaysia Pacific Corp Bhd has signed a letter of intent with a Thailand company to explore a joint-venture project in Iskandar Malaysia.

Its indirect unit Asia Pacific Trade & Expo City Sdn Bhd (APTEC) had on Dec 16 signed a letter of intent with Thailand’s Royal Asia Company Ltd and a Thai national Chutamas Vongvorakit to record the understanding and commitment of the parties to explore a joint venture on APTEC’s trade & exposition exhibition halls, hotels, offices, supermalls, serviced apartments and business centre, which is part of a larger Lakehill Resort City development in Iskandar Malaysia.

The letter of intent lays down the basis and roles of the parties in pursuing the project, with a view to enabling Chutamas to proceed with discussions with relevant parties and the government of Thailand to carry out activities in connection with the joint venture of the Thai Pavillion inside the trade & exposition exhibition halls, Thai-City inside Nusa Paradis as well as the setting up of a satellite APTEC and Nusa Paradis in Thailand as sub-hubs.

According to the letter of intent, Royal Asia Company and Chutamas must enter into a  formal binding agreement with APTEC by March 31 next year.

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