MyEG unit inks MoU to buy land from JCorp

By BERNAMA / Graphic By TMR

MyEG Services Bhd’s unit, MYEG Lodging Sdn Bhd, has entered into a memorandum of understanding (MoU) with Johor Corp (JCorp) to explore the possibility of purchasing or leasing a plot of land situated within the Muar Furniture Park.

Under the MoU, both parties would discuss the terms and conditions of the proposed option to purchase or lease the land, MyEG said in a filing to Bursa Malaysia yesterday.

It said the agreement was valid for three months from the date of the MoU and may be extended for another two months or other terms subject to review, consultation and discussion by and mutual agreement by the parties.

“It is not expected to have any material effect on the earnings per share of the company for the financial year ending June 30, 2018,” it said.