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Naza’s TTDI Metropolis, Jetson terminate JV for Matrade project

KUALA LUMPUR: The Naza Group’s TTDI KL Metropolis Sdn Bhd (TKLM) has terminated the shareholders’ agreement with Kumpulan Jetson Bhd to build a new trade exhibition centre for the Malaysia External Trade Development Corporation (Matrade) on a joint-venture basis.

Jetson said on Friday, Sept 3 the termination arose from disagreements on certain commercial terms relating to the project costs for the Matrade centre in Jalan Dutamas which was expected to cost RM628 million.

It said TKLM and the company had on Aug 30 disputed certain commercial terms. TKLM then proposed they call off the joint venture, without recourse to either party.

The project was to be undertaken through TTDI Jetson Sdn Bhd – a joint venture between Naza Group’s unit TTDI KL Metropolis and Jetson.
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