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.

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. Businessman loses RM295,950 after son duped in love scam
  2. Pahang state to gazette Bukit Ketam land for Lynas disposal facility, says minister
  3. Pahang draws RM91m investments from Jan-March this year