IPOH: Perak Corp Bhd (PCB) says its unit, PCB Development Sdn Bhd, has teamed up with Sanderson Project Development (Malaysia) Sdn Bhd to develop an animation theme park, resort hotel and serviced apartment here with a gross development value of RM506.7 million.
In a filing to Bursa Malaysia, PCB said a joint venture would be formed between the two partners, with PCBholding a 20 per cent stake and Sanderson Project the balance.
PCB is the developer of BioD city at Bandar Meru Raya here, a key development comprising residential, commercial, retail and leisure precincts. Sanderson Project is a special purpose vehicle set up particularly for the Perak venture by Sanderson Group Pty Ltd.
By Business Times
Saturday, March 24, 2012
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