Fajarbaru Builder Group Bhd enters into a Joint Venture Agreement with Care Dynamic Sdn Bhd to jointly undertake the development and construction of an Industrial City Park for 672 Units of Centralised Labour Quarters (56 Units x 12
Blocks) on a piece of land at Sg. Gadut, Seremban, Negeri Sembilan. .
The registered owner of Plot A, Sungei Gadut Development Sdn Bhd has given CDSB the authority to deal with, among others, Plot A land, including attending any hearings, submissions or appeals in relation to the application for approvals and/or subdivision of Plot A.
Subject to the Condition Precedent having been fulfilled under the JVA, FDD will purchase Plot A from SGD. CDSB has represented to FLM that SGD is agreeable to sell Plot A to FDD at the price of RM18.00 per square foot, and CDSB shall ensure the price of Plot A is secured at RM18.00 per square foot. As of the date of the JVA, the estimated price of Plot A RM8.5 million and will not exceed RM9 million.
