KUALA LUMPUR, Aug 28 (Bernama) -- GB Asiatic Ventures Group (GB) with its Strategic Partner - China Machinery Engineering Corporation (CMEC) and Archetype-Louis Berger Collaboration Group has entered into five MOAs (Memorandum of Agreements) with a Gross Development Value (GDV) of RM7.6 billion. The event is witnessed by Datuk Dr. Asharudddin Ahmad, representing the Minister at the Prime Minister Datuk Mah Siew Keong. According to GB Group’s Chairman Prof. Dr. Wong Kong Yew, the involvement of the company’s Strategic Partner CMEC in Malaysia and the region’s economy is a strategic direction for China intention to be part of the SDR (Special Drawing Rights) currency, joining US$, GBP, Yen and Euro$. Wong further explained that it is expected that the Chinese government and enterprises in the near future will be more aggressive in investing, taking equity position in foreign development projects. The five MOAs signed are EPC (Engineering, Procurement and Construction) agreements with up to 85% financing option. They are 71 storey Iconic Tower Project at Jalan Ampang near to KLCC, Kuala Lumpur, a 250 beds Private Specialist Medical Hospital in Precinct 5, Putrajaya, a 150 beds and mixed use facilities Private Medical Hospital in Kota Kinabalu, Sabah, North Bali International Regional Airport, Bali, Indonesia and a Mixed Use Commercial Development with integrated LRT station at Wangsa Maju, Kuala Lumpur.
http://mrem.bernama.com/viewsm.php?idm=25165
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