KUALA LUMPUR: Advancecon Holdings Bhd
has entered into a joint venture cum shareholders' agreement with Perak Equity Sdn Bhd, a unit of Perbadanan Kemajuan Negeri Perak (PKNPk), to develop centralised labour quarters (CLQs) in the state.
In a statement, the group said the agreement formalises the roles and responsibilities of both parties in the development, construction, operation, management, and maintenance of the CLQs on strategically located lands in the state.
Advancecon will contribute its technical, sales and marketing expertise essential for the execution of the JV projects, focusing on upgrading and constructing new CLQs on strategic lands and buildings.
“This JV agreement marks a significant milestone in our partnership with PKNPk to deliver high-quality workers accommodation that meet the increasing needs from industries investing in Perak.
"We are dedicated to leveraging our expertise to support the state’s economic growth and ESG agenda and collaborate on more CLQ projects going forward," said group CEO Datuk Phum Ang Kia.
