Common Contracts
1 similar Joint Venture Agreement contracts
A JOINT VENTURE AGREEMENT ENTERED BETWEEN IPMUDA PROPERTIES SDN BHD ("IPSB"), A WHOLLY-OWNED SUBSIDIARY OF JENTAYU SUSTAINABLES AND ENCORP DEVELOPMENT SDN BHD ("EDSB"), A WHOLLY-OWNED SUBSIDIARY OF ENCORP BERHAD (“ENCORP”) (“PROPOSED JV ARRANGEMENT”)Joint Venture Agreement • May 18th, 2022
Sierac Corporate Advisers Sdn Bhd (“SCA”), on behalf of the Board of Directors (“Board”) of Jentayu Sustainables together with its subsidiaries (the “Group” or “Jentayu Sustainables Group”), wishes to announce that IPSB has, on 18 May 2022 entered into a joint venture agreement (“JVA”) with EDSB to jointly develop a piece of land held under Master Title Town Lease 017549665, Located at Bukit Kepayan, District of Kota Kinabalu, State of Sabah measuring approximately 1.60 acres (“Project Land”) into one block of ten (10) storey condominium (166 units) with six (6) storey of carpark, commercial facilities, convenience stores and laundry room at Level 1 together with the infrastructure works thereon, vide the development plan approval dated 11 February 2020 and building plan approval dated 7 May 2021 (“Proposed Development”).
