KUALA LUMPUR: A Malaysian Resources Corp Bhd (MRCB) subsidiary has been given a RM128.7 million contract to upgrade Little India in Brickfields and build government quarters.
MRCB said its 70%-owned Country Annexe Sdn Bhd signed a privatisation agreement with the government and Syarikat Tanah dan Harta Sdn Bhd (Hartanah) on Tuesday, July 5.
Under the agreement, Country Annexe will upgrade and beautify Jalan Tun Sambanthan from the intersection of Jalan Travers and Jalan Tun Sambanthan up to the entrance of the Brickfields Police Station.
It will also develop the Pines Bazaar — a three-storey building with office space, 28 stalls and 140 parking bays and it will build 212 government Class F quarters near Jalan Ang Seng to replace the government quarters at Jalan Rozario.
In return, Country Annexe will receive two pieces of land at the intersection of Lorong Chan Ah Tong and Jalan Tun Sambanthan, measuring 14,297 sq metres and 5,642.71 sq metres.
Country Annexe is a 70:30 special purpose vehicle between MRCB and DMIA Sdn BHd. It was set up to construct projects in exchange for land which it in turn develops.
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