PETALING JAYA: YNH Property Bhd
, via wholly-owned subsidiary Kar Sin Bhd (KSB), has entered into a joint venture agreement with Genland Sdn Bhd (GSB) to construct, develop and complete a residential development known as Residensi Bangsar South in Kuala Lumpur.
In a filing with Bursa Malaysia, YNH said the JVA will provide opportunities for the parties to strengthen the financial earnings via the development of the project.
“GSB shall be entitled to receive from KSB a minimum sum of RM60mil, or a sum equivalent to 18% of the total gross development value of the property units, whichever amount is higher,” it said.
