Malton has announced on 10 October 2012 that, Silver Setup Sdn Bhd
("SSSB"), its wholly-owned subsidiary, had entered into a Joint
Development Agreement with Batu Kawan Development Sdn Bhd (formerly
known as Abad Naluri Sdn Bhd) for the proposed joint development of a
piece of land situated at Batu Kawan, Mukim 13, Seberang Perai Selatan,
Pulau Pinang measuring approximately 300 acres.
A Thriving Township of the Future
This leasehold land is likely to be located at the southern region of
Batu Kawan near Penang 2nd bridge. It is purchased by Abad Naluri in
March 2011 from Penang Development Corporation for purpose of mixed
commercial & residential development.
Is the above-mentioned land no.6?
The proposed development is estimated to be worth RM3.8bil and will be
completed in phases over 10 years. Malton shall be entitled to 82% of
the GDV base on the joint development agreement.
With the "handover" of this project to Malton, Equine should be able to
concentrate on its Crescentia Park township project at the north of Batu
Kawan.
Malton & Equine, who is a better developer?
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