Minply Holdings ventures into property development

KUALA LUMPUR: Minply Holdings (Malaysia) Bhd is undertaking a housing development project in Gemas, Negri Sembilan, with an estimated gross development value (GDV) of RM192 million, it announced on Bursa Malaysia on Jan 13.

Its unit Timberion Sdn Bhd has signed a memorandum of understanding (MoU) with Elitprop Sdn Bhd for the exclusive rights to undertake the project comprising 1,586 units of single-storey terrace houses.

Timberion and Elitprop will enter into a joint venture agreement to undertake the project, which is expected to net RM30 million in profit over six years.
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