Saturday, October 23, 2010

Karambunai SPV set up


THE controlling shareholder of Karambunai Corp Bhd (KCB), together with a Beijing-based contractor, has set up a Special Purpose Vehicle (SPV) to assess the feasibility of developing an integrated eco-nature resort in Karambunai.

With local and overseas consultants, including its financial consultant China Construction Bank International, the SPV has presented proposals to the government to assess the relevance of developing Karambunai to spearhead tourism growth in the Eastern Corridor.

To date, KCB holds no equity in the SPV, nor has it received any official notification from the government or signed any agreement with the SPV to develop Karambunai, the company noted to Bursa Malaysia yesterday.

Read more: Karambunai SPV set up http://www.btimes.com.my/Current_News/BTIMES/articles/20101023001717/Article/index_html#ixzz139RnkThd

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