Matrix inks deal to build financial district in Indonesia

Matrix Concepts Holdings Bhd  has entered into a memorandum of understanding (MoU) with PT Bangun Kosambi Sukses (BKS) and PT Nikko Sekuritas Indonesia (NSI) for a propose joint venture to undertake the development of an Islamic Financial District in PIK 2, Jakarta, Indonesia.

In an exchange filing yesterday, Matrix noted the proposed Islamic Financial District, is initiated by the Indonesian government in its quest to cater to the potential demand from its large Muslim population.

The establishment of JV is still in the midst of in-depth study and negotiation by the parties to the MoU with the final costs and commitment of the parties to be finalised in due course.