PETALING JAYA (Feb 25): Meda Inc Bhd has received the greenlight from its shareholders at an extraordinary general meeting today to change its name to Meridian Bhd and undertake a private placement of up to 10% of its total issued shares to fund the development of Malaysia Tourism City (MTC) in Melaka.
“The change of name to Meridian Bhd is in line with our focus to turnaround the operations and the financials of the company,” Meda Inc executive director Datuk Seth Yap (pictured) said in a statement today.
“In addition to looking at the existing issues, for instance, resolving the existing outstanding rentals to the owners of The Arc@Cyberjaya; we are also kick-starting our plans for MTC.
“We hope that this ‘facelift’ will be able to give the company the boost it needs as we work to prepare for the launch of our new projects,” Yap added.
Meda Inc plans to develop a 622-acre land in Kuala Linggi in Alor Gajah, Melaka into the MTC, over three phases.
Phase 1 of MTC comprises a water theme park, a weekend market, a thematic adventure park, the first phase of vacation bungalows called “The Estate”, the first phase of an eco-tourism park, a hotel and edu-tourism facilities.
Meanwhile, Phase 2 and 3 will have a designer moto-tourism park, a shopping mall and entertainment centre, a convention centre, the second and third phases of vacation bungalows, an aesthetics healthcare centre, second phase of the eco-tourism park, hotels, the second phase of the water theme park, a martial arts village, a medical centre and an aquarium. — EdgeProp.my