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KUALA LUMPUR: UDA Holdings Bhd and Pasdec Corp Sdn Bhd, a wholly-owned subsidiary of PASDEC Holdings Bhd, today signed a memorandum of understanding (MoU) to jointly undertake a commercial development on a 60ha area in Bukit Tinggi, Bentong, Pahang.
UDA Holdings chairman Datuk Nur Jazlan Mohamed said through this collaboration the land will be developed on a commercial scale.
However, the form of development is still in the study stage, he said.
"We have an idea on what to do, the project may not be full commercial in the short-term, (but) there's potential, the timing is right and the land can be developed.
"Even if the project doesn't develop commercial value with the fast payback, we may look into building something like a training centre," he told reporters after the MoU signing here today.
Nur Jazlan said the company will disclose the project details in coming months.
He said it was their desire to share expertise, experience and information as well as contribute to the socio-economic improvement of the local population when the project was implemented.
"This cooperation is deemed as a prelude for a joint venture between UDA and PASDEC and hopefully after this, UDA will be given the trust to be directly involved in other development projects in Pahang," he said.
Asked on the value of the 60-hectare land, PASDEC chairman Datuk Seri Adnan Yaakob, who is also Pahang Menteri Besar, said the land costs about RM45 million previously but "I don't know the current value."
Source : Star Online
Published: Friday September 30, 2011
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