Ewein unit, Consortium Zenith set out terms of collaboration

In a filing with Bursa Malaysia, Ewein said the parties have agreed that Consortium Zenith shall procure the Penang government to alienate the land to Ewein Zenith II to be the registered owners in order to undertake the proposed development.

KUALA LUMPUR: Ewein Bhd’s indirect subsidiary Ewein Zenith II Sdn Bhd has entered a joint venture agreement with Consortium Zenith Construction Sdn Bhd to set out the terms and conditions of a collaboration to develop a 4.34-acre freehold tract in Daerah Timur Laut in Pulau Pinang for RM159.75mil.

In a filing with Bursa Malaysia, Ewein said the parties have agreed that Consortium Zenith shall procure the Penang government to alienate the land to Ewein Zenith II to be the registered owners in order to undertake the proposed development.