KUALA LUMPUR: Menang Corp (M) Bhd's unit, Inovatif Mewah Sdn Bhd (IMSB), has secured the RM300 million Universiti Teknologi Mara (UiTM) campus project at Seremban 3.

IMSB, a 71% subsidiary of Menang Corp, has entered a concession agreement with the government, represented by the Higher Education Ministry and UiTM to undertake the project on a Private Finance Initiative (PFI).

The project, under the concept of "Build-Lease-Maintain-Transfer", will be built in three years and upon completion will be leased to the government/UiTM for 20 years.

The campus, designed to cater for 5,000 students, is located at the 332ha

Seremban 3 Township being developed by the Menang Group.

The agreement is expected to enlarge operations and earning base of the group and contribute positively to the earnings of Menang Corporation in the future financial years.

"The inflow of RM300 million into our Seremban 3 Township is expected to attract joint ventures for our land surrounding the UiTM campus.

"After completion of the campus, there will be two major streams of stable cashflow for the next 20 years to cater for our continuing capital needs," it said in a filing to Bursa Malaysia on May 5. -- Bernama
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