Sunway says not in talks with Sime on Iskandar JV
08 November 2011 , By The Star
Sunway Bhd said today it is not involved in any discussion with Sime Darby Bhd to jointly develop townships in Iskandar Malaysia, Johor.
Nevertheless, as a leading property and construction company, Sunway said it is constantly on the lookout for property development opportunities both locally and abroad.
"We will keep our shareholders appropriately notified through timely announcements made to Bursa Malaysia Securities Bhd," it said in its filing to the exchange here.
It was reported by Bernama on Thursday that the two companies are likely to jointly develop townships in Iskandar Malaysia.
Quoting industry sources, the report said the government was allocating land for the joint development and that the companies were buying the concession land for a good price.
The sources said it was also understood that both companies would sign a memorandum of understanding in the next few weeks, and that such a collaboration between government-linked companies (GLCs) and the private sector was best for Malaysia's future development.
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