SEB to develop Port Dickson land in NS Corp JV

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In a filing with Bursa Malaysia, SEB said it would hold an 80% stake in the SPV while NS Corp will hold the remaining 20%.

has entered into a joint venture with Negri Sembilan’s investment arm NS Corp to develop three parcels of land measuring 28 acres in the Port Dickson area, including one where the Jetty Arang is located.

The primary objective of the JV would be to carry out the development projects on the concession lands - including building all necessary infrastructure and public utilities - as well as attempting to undertake jetty operations for exports and imports, warehousing, tank farms and related logistics. NS Corp will be responsible for the liaising and procuring of approvals from the Negri Sembilan state government for the development projects; as well as procuring the approvals and licenses for the layout, building plans and development plans, on top of all other construction and development approvals.

 

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