Uda Holdings Bhd (UDA) and Pasdec Corp Sdn Bhd, a wholly-owned unit of Pasdec Holdings Bhd, signed a memorandum of understanding (MOU) yesterday to develop a 61 hectare land in Bukit Tinggi, Bentong, Pahang.
UDA chairman Datuk Nur Jazlan Mohamed said through the collaboration, the land will be developed on a commercial scale.
However, he said, the form of development is still in the planning stage and feasibility studies are still being carried out.
"We have an idea on what to do, the project may not be fully commercial in the short term, (but) there's potential, the timing is right and the land can be developed.
"Even if the project doesn't develop commercial value with the fast payback, we may look into building something like a training centre," he told reporters after the MOU signing here yesterday.
Nur Jazlan said the company will disclose the project details in the coming months.
He said it was UDA's desire to share expertise, experience and information as well as contribute to the socio-economic improvement of the local population when the project is implemented.
"This cooperation is deemed as a prelude for a joint venture between UDA and Pasdec, and hopefully after this UDA will be given the trust to be directly involved in other development projects in Pahang," Nur Jazlan said.
Asked on the value of the 60ha land, Pasdec chairman Datuk Seri Adnan Yaakob, who is also Pahang Menteri Besar, said the cost was about RM45 million previously but he doesn't know what its current value is.- Business Times
