by TMR / photo credit: langkawi-info.com
Xianlng inks MoU with TH Mestika for Langkawi’s project
Xian Leng Holdings Bhd (Xianlng) has inked a memorandum of understanding (MoU) with TH Mestika Sdn Bhd in relation to the company’s participation in the construction of a multi-storey flats (500 units) and related works on the People’s Housing Program by the Ministry of Housing and Local Government of Malaysia in Langkawi, Kedah.
In an exchange filing Monday, Xianlng said the purpose of the partnership is to set forth the general understanding of Xianlng’s intention to participate in the construction of the development project together with TH Mestika.
TH Mestika intends to appoint Xianlng and/or its subsequently incorporated subsidiary company as a subcontractor for the performance of the construction works wherein Xianlng shall be entitled to services fee payable by TH Mestika. The MoU shall become effective immediately upon the date hereof and shall remain in effect for a period of 12 months.