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MRCB, Korean Teachers’ Credit Union in strategic alliance
by hlk Wed 29 Jun 2011, 21:45
KUALA LUMPUR: MALAYSIAN RESOURCES CORP [] Bhd (MRCB) is teaming up with the Korean Teachers’ Credit Union (KTCU) -- which has about US$17 billion of assets under its management -- to collaborate in potential future projects.
MRCB said on Wednesday, June 29 it had entered into the strategic alliance with KTCU, which is a Korean government guaranteed welfare agency had also has nine affiliated business organisations.
KTCU is not unknown to MRCB. The Korean party is an investor of two real estate funds established by HanaDaol for two projects in Kuala Lumpur Sentral, which are Tower 2 Lot G and Q Sentral, with a total investment value of RM660 million.
Under the MoU, MRCB may invite KTCU to take part in investment opportunities either through equity participation, property acquisitions and/or investments or to assist KTCU to establish fund(s) that would allow the fund(s) to target projects introduced by MRCB.
As for KTCU, it may invite MRCB to extend the services in projects that KTCU is investing. Both parties would jointly explore the possibility of setting up investment vehicles in Malaysia.
The MoU, which took effect immediately, is for 12 months.
MRCB said on Wednesday, June 29 it had entered into the strategic alliance with KTCU, which is a Korean government guaranteed welfare agency had also has nine affiliated business organisations.
KTCU is not unknown to MRCB. The Korean party is an investor of two real estate funds established by HanaDaol for two projects in Kuala Lumpur Sentral, which are Tower 2 Lot G and Q Sentral, with a total investment value of RM660 million.
Under the MoU, MRCB may invite KTCU to take part in investment opportunities either through equity participation, property acquisitions and/or investments or to assist KTCU to establish fund(s) that would allow the fund(s) to target projects introduced by MRCB.
As for KTCU, it may invite MRCB to extend the services in projects that KTCU is investing. Both parties would jointly explore the possibility of setting up investment vehicles in Malaysia.
The MoU, which took effect immediately, is for 12 months.
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