PETALING JAYA: Bintai Kinden Corp
Bhd’s has proposed to tie up with Vista Springs Development Sdn Bhd to undertake a mixed development project in Bachang, Melaka.
In a filing with Bursa Malaysia, the mechanical and electrical engineering services company said its wholly owned subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd (KBK) had signed a memorandum of understanding with Vista Springs to work together on the project that would come with a gross development value (GDV) of about RM350mil.
Under the proposed collaboration, KBK and Vista Springs would form a joint venture for developing the premises on 4.744-acre freehold land in Bachang, Melaka, for hospitality, residential and/or commercial purposes.
Bintai Kinden said the estimated GDV of the proposed development was expected to contribute positively towards the group’s future earnings.
At market close yesterday, Bintai Kinden’s shares were 0.5 sen or 2.78% lower at 17.5 sen apiece with 246,000 shares done.
