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OTHERS LAGENDA PROPERTIES BERHAD (FORMERLY KNOWN AS D.B.E. GURNEY RESOURCES BERHAD) ("LPB" OR THE "COMPANY") - JOINT VENTURE CUM SHAREHOLDERS AGREEMENT WITH BDB LAND SDN BHD
LAGENDA PROPERTIES BERHAD
Type
Announcement
Subject
OTHERS
Description
LAGENDA PROPERTIES BERHAD (FORMERLY KNOWN AS D.B.E. GURNEY RESOURCES BERHAD) ("LPB" OR THE "COMPANY") - JOINT VENTURE CUM SHAREHOLDERS AGREEMENT WITH BDB LAND SDN BHD
We refer to our announcement dated 30 October 2020 in relation to the Memorandum of Understanding with BDB Land Sdn Bhd ("BLSB"), a wholly-owned subsidiary of Bina Darulaman Berhad, which is a public listed company on a joint venture for affordable housing development.
The Board of Directors of LPB wishes to announce that on 6 April 2021, LPB Development Sdn Bhd (“LDSB”), a wholly-owned subsidiary of the Company had entered into a Joint Venture cum Shareholders Agreement (“JVSA”) with BLSB to incorporate a joint venture company namely, BDB Lagenda Sdn Bhd (“BDBLSB”) and for BDBLSB to undertake an affordable housing development project on 5 parcels of lands all located at Bandar Amanjaya, Daerah Kuala Muda, Negeri Kedah with a total gross area measuring approximately 229.99 acres (“ProposedJoint Venture’).
Please refer to the attachment for further details of the Proposed Joint Venture.