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Thursday, June 9, 2011

Benalec's Unit In Strategic Alliance With OIC Today To Attract Middle East Investment

KUALA LUMPUR, June 9 (Bernama) -- Benalec Holdings Bhd's subsidiary, Jewel East Sdn Bhd, has formed a strategic alliance with OIC Today to attract investment from Middle East countries for the proposed mixed commercial and tourism development project in Klebang, Melaka.

In a filing to Bursa Malaysia here Thursday, the company said both parties had entered into a memorandum of understanding (MoU) to form a mutually beneficial strategic alliance.

Under the MoU, OIC Today via its extensive network, will promote and attract investors from the Organisation of Islamic Conference (OIC) countries for the proposed development.

Jewel East meanwhile, will offer the reclaimed land and use its best endeavours to assist potential investors obtain necessary approvals.

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