Salcon teams up with Exsim to build serviced apartments in JB
Salcon Bhd, via its indirect wholly- -owned subsidiary Nusantara Megajuta Sdn Bhd, has entered into a joint venture agreement (JVA) with Exsim Kebun Teh Sdn Bhd to develop serviced apartments and retail units on two parcels of land measuring a total 51,476.2 sq m (12.72 acres) of leasehold land. In a bourse filing on Friday, Salcon said the land, which is currently charged to HSBC Bank Malaysia Bhd, has a net book value of RM108.83 million based on its latest audited financial statements as at Dec 31, 2021, while its usage is for multi-storey commercial buildings.
Source: theedgemarkets.com