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Varia Completes Collaboration Agreement with Seri Alam for Property Development

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Varia Berhad (KLSE:VARIA) has completed its collaboration agreement with Seri Alam Properties with effect from Friday, according to a same-day filing to the Malaysian bourse.

The company said that all conditions mentioned in the collaboration agreement have been duly fulfilled by the parties on Friday, and the pact has become unconditional.

Varia had entered into a collaboration agreement with Seri Alam Properties to jointly develop a medium-cost residential project in Bandar Seri Alam, Johor Baru.

Under the pact, Varia's indirect wholly owned subsidiary, Varia Southrise, will undertake the development of a 43,810 sq m freehold parcel in Plentong.

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