KPPB signs up for Penang development deal

PETALING JAYA: Kerjaya Prospek Property Bhd (KPPB) has entered into a joint-venture agreement with Aspen Vision City Sdn Bhd (AVC) to jointly develop a piece of freehold land in Aspen Vision City, Batu Kawan, Penang.

In a filing with Bursa Malaysia, KPPB said the development will be done via a special-purpose vehicle (SPV) wherein its wholly owned subsidiary, Kerjaya Property JV Sdn Bhd and AVC will hold 70% and 30% of shares in the SPV, respectively.