Ekovest teams up with CREC to pursue new projects
Tuesday, 26 Nov 20197:18 PM MYT
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KUALA LUMPUR: Ekovest Bhd
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, the builder controlled by Tan Sri Lim Kang Hoo, has team up with a unit of China Railway Group Ltd (CREC) to bid for projects in Malaysia and around the region.The collaboration, Ekovest told Bursa Malaysia today, is to jointly explore new ventures and projects, including opportunities in the infrastructure, property development and construction sectors.
The collaboration agreement between Ekovest and CREC's wholly owned China Railway Dongfang Group Sdn Bhd was announced a day after Lim secured part financing from CIMB Bank Bhd for the development of Bandar Malaysia.
Iskandar Waterfront Holdings Sdn Bhd (IWH), Lim's investment vehicle, on Monday signed a RM371mil facility agreement with CIMB to part finance the investment by IWH-CREC consortium in the Bandar Malaysia project.
IWH-CREC Sdn Bhd, in which IWH has a 60% stake, is the master developer of the Bandar Malaysia project.
The project will be jointly developed by the Minister of Finance and IWH-CREC.
Read more at https://www.thestar.com.my/business/business-news/2019/11/26/ekovest-teams-up-crec-to-pursue-new-projects#cMIg24buIJcft5UW.99
