PETALING JAYA: Encorp Bhd has entered into prelimenary agreements with several companies, including Tiong Nam Logistics Holdings Bhd and Farm’s Best Bhd, to develop its huge land bank in Malacca.
The property developer, which is 71% owned by Felda Investment Corp, signed three separate memoranda of understanding (MoU) with units of Tiong Nam, Farm’s Best and Kean Leng Construction Sdn Bhd to kickstart the development of its 641 acres in Bukit Katil.
The MoU, Encorp said, would serve as a forum for collaboration between the parties to form a strategic alliance for the development of the Bukit Katil land.
It will allow the company to start the development without incurring a massive capital outlay.
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