Nagamas, Chinese firm mull JV in Bernam Jaya

KUALA LUMPUR: Nagamas International Bhd and a Chinese company from Taian, China, are exploring the possibility  of jointly developing 200 acres of land in Bernam Jaya, Selangor, into logistic, industrial, educational and  eco-parks as well as other developmental use.

In a statement on Wednesday, April 28, Nagamas said its subsidiary Nagamas Land Development Sdn Bhd (NLD) had  entered into a memorandum of understanding with The Returned Overseas Chinese Federation of Taian (ROCFT)  towards forming the joint venture.

Nagamas did not say who owns the land, but said NLD had on March 26 received a letter of intent from
Selangor Development Corp Board or PKNS for the joint development of 1,571 acres of land there.

It said the ROCFT would be responsible in promoting the development to investors from Taian.
- The Edge Financial Daily