Ta Win sets up subsidiary to undertake Terengganu Ecocycle Park

KUALA LUMPUR (Aug 14): Ta Win Holdings Bhd has set up a new subsidiary to undertake the development of the state-of-the-art eco-friendly Terengganu Ecocyle Park.

In a bourse filing today, Ta Wi said it had received approval from the Companies Commission of Malaysia for the incorporation of Ta Win Copper Ecocycle Sdn Bhd (Ta Win Copper Ecocycle).

It said pursuant to the joint venture agreement with Perbadanan Memajukan Iktisad Negeri Terengganu, Ta Win Copper Ecocycle will undertake the development of the project as well as other various aspects.

The firm said the Terengganu Ecocycle Park will be developed in four phases across approximately 500 acres of land located at Kawasan Lembah Perasing, Mukim Hulu Jabor, Daerah Kemaman, Terengganu Darul Iman.

The project is targeted to be completed over a nine-year period, it said.

In a separate statement, Ta Win group managing director Datuk Sri Ngu Tieng Ung said the establishment of Ta Win Copper Ecocycle will support its expansion strategy and strengthen its position via the development of the Terengganu Ecocycle Park.

Separately, Ta Win also announced the appointment of Datuk Zakaria Sharif to its Board as an Independent Director, effective Aug 7, 2020.

The group said Zakaria has vast experience in the corporate world, including in the areas of auditing, property development, re-insurance and fund management.

It said he served Lembaga Tabung Angkatan Tentera from 1988 until 2019 upon his retirement as Deputy Chief Executive.

Zakaria has also served on the Boards of other public listed and private companies.

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