KUALA LUMPUR (July 14): Ajiya Bhd has entered into a Memorandum of Understanding (MOU) with Syarikat Perumahan Negara Bhd (SPNB) to implement Ajiya’s Green Integrated Building Solutions (AGIBS) in the development of housing projects under SPNB Group.

SPNB is entrusted with the responsibility of providing and developing affordable accommodation for Malaysians to meet the housing requirement of the public in the lower and middle income group.

In a filing to Bursa Malaysia this afternoon, Ajiya said the MOU allows the parties to form the basis of consensus for the arties to collaborate and promote technical cooperation and mutual benefit in the development of housing projects under SPNB Group.

Ajiya said it would supply its AGIBS at an agreed cost which will be determined later and/or be appointed as design & build contractor, as the case maybe, for the housing projects/program under SPNB Group.

It said for the purposes of the MOU, the SPNB Group will include the latter’ wholly-owned units, namely SPBN Aspirasi Sdn Bhd, SPNB Idaman Sdn Bhd and SPNB Mesra Sdn Bhd.

Ajiya said that at the request of SPNB, it will provide training to any of the appointed contractors or sub-contractors, any related stakeholders, any employee of SPNB and its group, in respect of the AGIBS implementation.

It said the MOU shall remain in force for a period of one year from the date of signing of the MOU.

Ajiya shed 0.60% or 0.5 sen to 83 sen, with 621,700 shares traded in the morning session today. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.

  1. SkyWorld Development gets SC approval to list on main market of Bursa Malaysia
  2. Trading of Ageson securities to be suspended from May 10 until further notice
  3. Bursa grants six-month time extension to IWCity to submit regularisation plan