KTI Landmark Berhad has signed a memorandum of understanding (MOU) with the Sabah Rubber Industry Board (SRIB) to explore the joint development of approximately 500 acres of land in Tuaran, Sabah, into a residential and/or industrial estate.
KTI said its wholly owned subsidiary entered into the MOU with SRIB on July 9 to undertake feasibility studies for the proposed project.
The land comprises two parcels measuring approximately 300 acres and 200 acres, respectively, located in Samat Sawah, Tuaran, Sabah.
Under the MOU, KTISB will conduct studies relating to the viability and implementation of the proposed mixed development, with the findings serving as the basis for a potential joint venture agreement between the parties.
The collaboration will also be subject to the approval of the Sabah State Cabinet before any formal development agreement can be concluded.
