MyEG subsidiary has received a letter of acceptance from Penang Development Corporation for the setting up of a workers’ village and related facilities at Batu Kawan Industrial Park 3, Penang.
The Project is for the subsidiary MY EG Lodging to lease land measuring 8.39 acres at a value of RM20 million for a duration of 30 years to build and complete as well as manage and operate the workers’ village and related facilities at its own cost. The completed workers village is estimated to accommodate 7,500 foreign workers and will comply with Jabatan Tenaga Kerja Semenanjung Malaysia guidelines as well as certified with GreenRE.
The group sees the project to contribute positively to its earnings per share and net assets per share upon commencement of operations.
