The parties are currently in preliminary discussion over a partnership for development to be carried out at 230 acres of land in Darulaman Putra, Kedah.
The group said in a filing with Bursa Malaysia that the collaboration will leave open the possibility of a recurring partnership between the parties.
"The Joint Venture would be a strategic opportunity for the Company to further expand its affordable housing development business and replicate the success of its two notable affordable housing townships, namely Bandar Baru Setia Awan Perdana in Sitiawan, Perak and Lagenda Teluk Intan in Teluk Intan, Perak.
"The Board believes that the Joint Venture shall contribute positively to the Group’s future earnings and strengthen its financial position moving forward," said Lagenda.
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