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Jetson joint venture to submit tender for Naza TTDI job

KUALA LUMPUR: Jetson Bhd (Jetson), through its wholly-owned subsidiary Jetson Construction Sdn Bhd (JCSB), has entered into a joint-venture (JV) agreement with China State Construction Engineering (Hong Kong) Ltd (CSCHK) on May 6, to form an unincorporated JV entity, Jetson-CSCHK joint venture, to prepare and submit a tender invited by Naza TTDI Sdn Bhd.

In its filing on Bursa Malaysia, the said tender is for the proposed development of one block of head office comprising 38 storeys and 10 levels of podium for Platinum Park in Jalan Stonor in Kuala Lumpur. The JV will see JCSB holding a 60% financial interest, while the remaining 40% will be held by CSCHK. The JV was part of a Memorandum of Understanding inked between JCSB and CSCHK on Jan 29.

CSCHK is one of the largest construction contractors in Hong Kong and is currently one of the biggest contractors for Hong Kong Authority projects, according to the statement. Jetson’s chairman Sheikh Mohd Nasarudin and vice-chairman Sheikh Mohd Faliq are both major shareholders of Jetson, as well as directors of Naza TTDI.
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