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News

Others: Letter Of Intent

Feb 23, 2011

Date Announced
:
23/02/2011  



Type
:
Announcement
Subject
:
OTHERS

Description
:
LETTER OF INTENT

Announcement Details/Table Section :

Ekovest Berhad ("the Company") is pleased to announce that the Government of Malaysia (GOM) via the Datuk Bandar Kuala Lumpur (DBKL) has issued a letter of intent dated 22 February 2011 to Ekovest Berhad-MRCB JV wherein the GOM intend to obtain the services of Ekovest Berhad-MRCB JV as the Project Deliver Partner (PDP) for the River of Life Project (ROLP), an Entry Point Project (EPP) identified in the Greater Kuala Lumpur/Klang Valley National Key Economic Area (NKEA) under the Economic Transformation Programme (ETP) of Malaysia.

Nevertheless, the intention is subjected to negotiations between Ekovest Berhad-MRCB JV and the River of Life Joint Development Committee (ROL JDC), a committee set up to govern the River of Life EPP on behalf of the GOM in relation to the scope and cost of services for the ROLP as stipulated in the Terms of Reference and Ekovest Berhad-MRCB JV is to adhere to all the Government and/or relevant authorities' rules and regulations with regards to the execution of the ROLP.

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