Daiman inks MoU for China project

KUALA LUMPUR: Property developer Daiman Development Bhd has signed a memorandum of understanding (MoU) with the People’s Government of Chaozhou Municipality in China to acquire and develop a piece of land in Chaoan County, Guangdong Province.

Under the MoU signed on Sept 10, Daiman accepts the investment opportunity offered by the Chaoan County to develop the land, measuring about 121.4ha at Dong Shan Hu in Shaxi Town.

Based on the MoU, the Chaoan County undertakes to supply full information and assistance for Daiman to complete its feasibility and due diligence studies.

During the due diligence period, the right to acquire and develop the land was exclusive to Daiman, the company said in a filing with Bursa Malaysia.

By Bernama