Nan Hai-Malton JV enters next bidding phase for Taipei project

KUALA LUMPUR (Dec 28): Malton Bhd’s joint venture (JV) with Hong Kong-listed Nan Hai Corp Ltd has been selected to enter into the next phase of the bidding process for the construction of a superstructure above the airport express train station located near the Taipei main train station in Taiwan.

Malton said the Department of Rapid Transit Systems Taipei City Government had yesterday announced that the bid submitted by the Nan Hai-Malton JV has been selected as the best applicant for the project.

Nan Hai holds an 80% equity interest in the JV, while Malton holds the remaining 20% stake.

In a filing with Bursa Malaysia, Malton said the Nan Hai-Malton JV will now commence negotiation on the terms of an investment agreement with the Taipei City authorities and is expected to enter into such an agreement in March next year.

On Oct 1, the Nan Hai-Malton JV had submitted a bid to the Taipei City authorities for the project.

The project involves the development of a high-rise multipurpose complex and prime office space.

This article first appeared in The Edge Financial Daily, on Dec 28, 2018.

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