HIL in residential project JVs in Selangor


In a filing with Bursa Malaysia, it said its wholly-owned subsidiary Amverton Prop Sdn Bhd has entered into agreements with Unik Sejati Sdn Bhd, Pembinaan Kesentosaan Sdn Bhd and Amverton Carey Golf & Island Resort Sdn Bhd.

KUALA LUMPUR: HIL Industries Bhd has entered into four conditional joint venture agreements to undertake residential development on five parcels of land in Selangor.

In a filing with Bursa Malaysia, it said its wholly-owned subsidiary Amverton Prop Sdn Bhd has entered into agreements with Unik Sejati Sdn Bhd, Pembinaan Kesentosaan Sdn Bhd and Amverton Carey Golf & Island Resort Sdn Bhd.

The proposed joint ventures will enable the group to replenish its existing property development projects and are expected to increase the revenue and profit contribution from the property development segment.

“Based on the management feasibility studies, the group is expected to generate an estimated GDP (gross development profit) of RM96.1mil from the proposed joint ventures, ” it said.

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HIL Industries , JVs , Selangor , residential , development ,

   

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