MyEG, Johor Corp mull Muar Furniture Park land buy

This article first appeared in The Edge Financial Daily, on April 4, 2018.
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KUALA LUMPUR: MyEG Services Bhd has inked a preliminary agreement with Johor’s state investment firm, Johor Corp, to explore the possibility of buying or leasing a land located within the state’s Muar Furniture Park.

MyEG said its sub-subsidiary MY EG Lodging Sdn Bhd entered into a memorandum of understanding (MoU) with Johor Corp yesterday to discuss the terms and conditions of the proposed options.

“The MoU shall form the basis of the consensus of the parties to examine the feasibility of the undertaking until such time as the definitive agreement(s) is entered into by the parties,” MyEG’s filing with Bursa Malaysia read.

The MoU is valid for three months, MyEG added, but may be extended by mutual agreement.

MyEG shares closed unchanged at RM2.90 yesterday, giving it a market capitalisation of RM10.46 billion.