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MALAYSIA: Joint venture construction contract award for planned first phase $66,000,000 state...

PROJECT OVERVIEW:

The local SARAWAK WORKS DEPARTMENT recently awarded a construction contract for a new legislative chamber complex to a Malaysian joint venture. The partners in the planned undertaking and their respective shareholdings include NAIM CENDERA SDN BHD (45%), a subsidiary of NAIM CENDERA HOLDINGS BHD, and an undisclosed Malaysian company that will own the remaining stake.

Construction plans, to be implemented in 3 phases, will initially call for building a facility valued at about $66,000,000. However, it is not yet sure whether NAIM CENDERA w

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