Malaysian Resources Corporation Bhd's (MRCB) 70 per cent subsidiary, Country Annexe Sdn Bhd (CASB), has entered into a privatisation agreement with the government of Malaysia and Syarikat Tanah dan Harta Sdn Bhd to undertake projects worth RM128.713 million in Brickfields.
It involves the Little India Project, Pines Bazaar and Ang Seng Development.
The Little India Project encompasses upgrading and beautification of Jalan Tun Sambathan begining from the intersection of Jalan Travers and Jalan Tun Sambathan up to the entrance of the Brickfields Police Station.
Pines Bazaar is a three-storey building consisting of office space, 28 units of stalls and 140 car park bays.
Ang Seng Development encompasses the construction of 212 units of new government Class F quarters near Jalan Ang Seng to replace the government quarters at Jalan Rozario.
In a filing to Bursa Malaysia on Tuesday, MRCB said in consideration for undertaking the construction of the projects entirely at its own cost and expense, CASB shall be given two pieces of land situated in the intersection of Lorong Chan Ah Tong and Jalan Tun Sambanthan, measuring 14,297 sq m and 5,642.71 sq m respectively.
The land is valued at approximately RM601 per sq ft and CASB plans to develop it into a mixed property development with an estimated gross development value of approximately RM1 billion. - Bernama
