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MGB falls 4.35% on JV to develop Cameron Highlands land

KUALA LUMPUR (Aug 6): MGB Bhd shares fell 4.35% this morning after it entered into a joint venture agreement (JVA) to develop 1.88 acres of leasehold land at Cameron Highlands, Pahang, into a block of serviced apartment with a gross development value of RM107 million.

At 11.17am, MGB fell 3 sen to 66 sen, giving it a market capitalisation of RM328.23 million.

Yesterday, MGB said its wholly-owned subsidiary Sinaran Kencana Sdn Bhd has entered into the JVA with Aset AZG Sdn Bhd, which is the owner of the tract.

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