has entered into a memorandum of understanding with Penang Development Corp to explore a collaboration in developing a 230-acre site in the Bandar Cassia township in Batu Kawan, Penang.In a bourse filing, Titijaya said the collaboration with the Penang Development Corp will serve as a platform for its to expand its business activities in the property development and construction projects in the state.
"The Parties agree to collaborate to develop the Proposed Land subject to terms and conditions as the Parties may mutually agree in a formal definitive purchase and development agreement and/or lease agreement or joint development agreement," it said.