Majuperak, GFM scrap plan to develop rest and service area in Perak

MAJUPERAK Holdings Bhd (MHB) and GFM Services Bhd have called off plans to jointly develop and operate a rest and service area at Hulu Bernam, Perak, along the North-South Expressway.

On Jan 17, 2023, Majuperak’s wholly-owned Jua Juara Sdn Bhd (JJSB) inked a heads of agreement (HoAs) with GFM to form a joint venture (JV) for the proposed partnership, with the parties expected to ink a definitive JV agreement within six months of the HoA.

“In this connection, the board of directors of MHB wishes to announce that JJSB and GFM have mutually agreed to terminate the agreements at no cost to be borne by either party,” Majuperak told the stock exchange yesterday.

Shares of Majuperak closed unchanged at 22 sen yesterday, while GFM fell 1 sen, or 4.76%, to 20 sen. — TMR / pic source: PLUS