Naim to venture into China?

KUALA LUMPUR: Naim Holdings Bhd, a Sarawak-based builder and property developer, has signed a memorandum of understanding with three other parties to explore the prospect of collaborating for the development of two community inter-linked smart cities.

In a statement yesterday, Naim said it signed the MoU on Monday with the Miri City Council and two other parties in China — Guangzhou Panyu Economy and Trade Promotion Bureau of Guangzhou and Institute of Digital Guangdong — for the development of the Panyu-Miri Smart Cities (PMSC).

“The PMSC shall create and maintain a special information super highway link between the smart intelligent cities of Panyu and Miri with a ‘mirror’ computer server to be hosted in each other’s cities which will enable users in both cities to enjoy community-linked projects,” Naim said.

Naim, whose revenue is entirely derived locally for now, has been eyeing real estate opportunities abroad. While it is still speculative, the latest development may be seen as a measure by which Naim could later explore development opportunities in China.

In March this year, its wholly owned subsidiary NCSB Engineering Sdn Bhd signed an MoU with Libya’s General Board of Privatisation & Investment to jointly conceive the development concept for a mixed project known as the Solar Oasis Science and Business Park on an estimated 100ha site about 30km from the Tripoli City.

This article appeared in The Edge Financial Daily, June 30, 2010.

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