KUALA LUMPUR: MK Land Holdings Bhd's share price is up in early morning trade on news that it is collaborating with Menteri Besar Inc (Perak) on a land development project.
MK Land said yesterday that its subsidiary Ritma Mantap Sdn Bhd had signed a memorandum of understanding with the Perak state government to jointly develop a 226-acre tract into a mixed development comprising housing and commercial units.
"The Proposed Development shall be a mixed development that include affordable housing with amenities and basic infrastructure serving the proposed development," it said in a stock exchange filing.
The project is expected to be completed in phases over a period of 10 years with an extension of five years.
At 9.37am, MK Land was one of the most actively traded counters on Bursa Malaysia, up 2.5 sen or 10.2% to 27 sen on the back of 8.17 million shares done.
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