KUALA LUMPUR: Ekovest Bhd
said today it will pay RM250mil as initial investment outlay to participate in the development of Bandar Malaysia through a joint venture with Iskandar Waterfront Holdings Sdn Bhd (IWH).
Ekovest's chairman Tan Sri Lim Kang Hoo owns a 63% stake in IWH.
Ekovest, in a filing with Bursa Malaysia today, said the estimated total investment commitment for the proposed participation and investment in the Bandar Malaysia project is approximately RM1.48bil.
Subsequently, Ekovest will be required to commit an additional sum of approximately RM1.23bil over a period of time until year 2023.
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