Amcorp Properties forms joint venture with S’pore firm
PETALING JAYA: Amcorp Properties Bhd ’s unit is forming a joint-venture (JV) company with SRIF Pte Ltd and an endowment fund deemed to be established under Nanyang Technological University in a strategic move to expand its footprint into Singapore.
In its filing with Bursa Malaysia, Amcorp said its wholly owned subsidiary – Amprop Synergy – had entered into a JV agreement in respect of a JV company known as SRIF Amcorp Pte Ltd to acquire an interest in a commercial property in Tampines, Singapore.
Upon execution of the JV agreement, Amprop Synergy will subscribe to a 40% equity interest in SRIF Amcorp, while SRIF Amcorp will subscribe to a 35% equity interest and the endowment fund will subscribe to the remainder 25% equity interest in the JV company.
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