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Boustead in JV with Ikano for proposed shopping mall
by hlk Fri 13 Apr 2012, 19:35
KUALA LUMPUR: Boustead Holdings Bhd is teaming up with Ikano Pte Ltd to acquire land to build and manage a shopping centre here.
Its unit, Mutiara Rini Sdn Bhd had on Friday inked a joint venture agreement with Ikano to set up a joint venture company to acquire land from Lembaga Tabung Angkatan Tentera (LTAT) to jointly develop and manage a shopping centre on the site.
The JV company's authorised share capital is RM100,000 comprising 100,000 ordinary shares of RM1 each. The authorised share capital will be increased to RM200 million. Mutiara Rini and Ikano will eventually each contribute RM100 million for the paid-up share capital of the company.
Mutiara Rini's principal activities are property development and property investment. It is the developer of the Mutiara Damansara township where the Curve and e@Curve shopping centres which belong to the Boustead group are located
Its unit, Mutiara Rini Sdn Bhd had on Friday inked a joint venture agreement with Ikano to set up a joint venture company to acquire land from Lembaga Tabung Angkatan Tentera (LTAT) to jointly develop and manage a shopping centre on the site.
The JV company's authorised share capital is RM100,000 comprising 100,000 ordinary shares of RM1 each. The authorised share capital will be increased to RM200 million. Mutiara Rini and Ikano will eventually each contribute RM100 million for the paid-up share capital of the company.
Mutiara Rini's principal activities are property development and property investment. It is the developer of the Mutiara Damansara township where the Curve and e@Curve shopping centres which belong to the Boustead group are located
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