Malaysian Resources Unit Signs Joint Development Deal for MYR6.3 Billion Project; Shares Gain 3%

MT Newswires Live

2025/07/14

Malaysian Resources (KLSE:MRCB) unit Country Annexe signed a joint venture development deal with Ipoh Sentral for the proposed Ipoh Sentral project, according to a Friday Malaysian bourse filing.

Shares gained about 3% in recent trade on Monday.

The project's estimated gross development value is 6.3 billion ringgit, with an estimated cost of 5.6 billion ringgit.

The mixed-use, transit-oriented development covers over 269,000 square meters of leasehold land in Ipoh, Perak.

The company will finance the deal via internal funds and/or bank borrowings, it said.

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