Talam and IJM form joint venture
06/03/2007 The Star

KUALA LUMPUR: Talam Corp Bhd said it has, via its unit Mutual Prosperous Sdn Bhd, formed a 50:50 joint venture with IJM Properties Sdn Bhd.

The partnership is to take over the development of Sierra Selayang, a high-end property project on 204 acres in Gombak, Selangor.

IJM Properties is a wholly-owned unit of IJM Corp Bhd.

In a separate statement, Talam said its units, Zhinmun Sdn Bhd, Untung Utama Sdn Bhd and Seaview Plantations Sdn Bhd, will provide the land and grant to the joint venture company, Cekap Tropikal Sdn Bhd.

This will give Cekap Tropikal the sole and exclusive rights to carry out the Sierra Selayang development.

The project will be undertaken for a joint venture entitlement sum of RM77.7mil. – AFX-Asia