Asia
KTI Landmark Signs MoU with Sabah Rubber Industry Board to Develop Land Parcel
K.T.I., a wholly-owned subsidiary of real estate developer KTI Landmark (KLSE:KTI), has entered into a memorandum of understanding with Sabah Rubber Industry Board to develop a parcel of land in Samat Sawah in Malaysia's Tuaran district, according to a Friday filing to the Indian stock exchanges.The companies plan to form a joint venture to develop the land, which comprises two portions measuring 300 acres and 200 acres, into a residential or industrial estate.The collaboration is subject to agreed terms and conditions and the approval of the Cabinet of the Government of the State of Sabah.The MoU is scheduled to expire in 12 months unless extended.
KLSE:KTI
