Tebrau Teguh Bhd has been appointed the developer for 167.13 hectares of land in Mukim Pantai Timur, Johor, which will complement Petronas' US$20 billion refinery and petrochemicals integrated development (Rapid).
The company said the land would be developed into a comprehensive mixed development which would complement the Rapid project.
The company is currently negotiating the technical, financial and legal aspects of the appointment with the Johor State Government's
Economic Planning Unit, it said in a filing to Bursa Malaysia.
The project is expected to contribute positively to the company's future earnings and net tangible assets.
By Bernama
Tuesday, January 31, 2012
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