Nagamas-SSDC 'Bernam Jaya' deal off

KUALA LUMPUR (Nov 22): The Selangor State Development Corp (SSDC) has rejected Nagamas International Bhd's application to extend the negotiation period to explore a potential joint development of a 1,500-acre tract in Ulu Bernam, Hulu Selangor, possibly freeing up the opportunity for other players.

The lapse of the memorandum of understanding, signed on May 27, 2010, was part of negotiations for 6,046-acres of land in total, beneficially owned by the SSDC for the "Bernam Jaya" mixed development project.

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