Rimbunan Sawit calls off joint venture to develop Sarawak NCR land
In a filing with Bursa Malaysia on Thursday, Rimbunan Sawit said it had entered into a rescission agreement with LHSB to mutually terminate the JV agreement signed in April 2001.
In a filing with Bursa Malaysia on Thursday, Rimbunan Sawit said it had entered into a rescission agreement with LHSB to mutually terminate the JV agreement signed in April 2001.
“On the surface, this revenue-sharing scheme seems lopsided and demands further detailed disclosures,” they said, noting that Petaling Jaya alone is projected to face a revenue shortfall of around RM10 million under the proposed deal.
The contract was awarded to its wholly-owned subsidiary KTI Sdn Bhd by the Construction Industry Development Board.
Bandar Mahkota Cheras, Selangor shop rented for RM6.
The offer price represents a premium of nearly 85% over Kim Hin’s last traded price of 46 sen on July 3 before trading in the stock was suspended for the announcement.
The two contracts follow four contracts worth RM145.
The group said the site in Teluk Intan was picked for its high annual solar radiation and its proximity to an existing high-voltage substation.
Mohd Azharuddin is leaving, following the end of tenure at the government-owned company.
"Since the incident, the company has mobilised substantial efforts to ensure public safety, support the impacted community, and maintain gas supply continuity across the country.