Talam’s unit Europlus in JV deal to develop RM388mil GDV venture

KUALA LUMPUR: Talam Rework Bhd‘s wholly-owned unit Europlus Bhd (EB) has entered right into a three way partnership (JV) settlement with Janajaya Murni Sdn Bhd (JMSB) to develop terrace homes on two parcels of lands owned by EB in Serendah, Selangor.

In a submitting with Bursa Malaysia immediately, Talam stated Land 1 and Land 2 measure 11.3 hectares (ha) and 20 ha, respectively.

Land 1 could have a gross growth worth (GDV) of RM140.70 million and Land 2 RM247.52 million.

As a part of the settlement, JMSB would pay EB three way partnership entitlements of roughly RM22.51 million for Land 1 and RM39.6 million for Land 2.

“The proposed JV is predicted to generate an estimated money influx of roughly RM62.11 million, enabling Talam to considerably enhance its liquidity place for the working capital of the group’s property growth tasks and cut back the group’s money owed,” it stated.

The online proceeds from EB’s JV entitlement might be utilized to pare down the group’s liabilities and stability as working capital for the group’s property growth tasks, it added. – Bernama


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