PETALING JAYA (May 15): Matrix Concepts Holdings Bhd today signed a Memorandum of Understanding (MoU) to jointly undertake the development of an Islamic financial district in Pantai Indah Kapuk 2 (PIK 2) Sedayu Indo City, Jakarta, Indonesia.
In a statement, Matrix Concepts announced that it has signed the MoU with an Indonesian consortium comprising PT Bangun Kosambi Sukses (BKS) and PT Nikko Sekuritas Indonesia (NSI) to explore a joint venture agreement.
BKS is jointly owned by Agung Sedayu Group and Salim Group, which is principally involved in the property development of PIK 2 Sedayu Indo City, Indonesia, while NSI is an investment banking firm in Indonesia.
The 1,000ha PIK 2 Sedayu Indo City aims to become a central business district outside of Jakarta, and will include houses, apartments, shopping centres, a light rail transit system, and a stadium.
“The proposed Islamic Financial District was initiated by the Indonesian government in their quest to position themselves as an Islamic Financial Centre in view of their large Muslim population.
“We are planning to combine efforts with the biggest developer in Indonesia to undertake this project that will benefit both parties in the long run. This also is our first step to establish our presence in the biggest and growing market in Asean,” said chairman of Matrix Concepts Datuk Mohamad Haslah Mohamad Amin.
The three parties will negotiate the terms and conditions of the definitive joint venture agreement and attempt to execute it within six months of signing the MoU.
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