Aturmaju Resources to partner Perkasa Selalu for intelligence project in Kuala Selangor

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KUALA LUMPUR (March 4): Aturmaju Resources Bhd (ARB) plans to jointly develop an intelligence modern lifestyle project in Kuala Selangor with Perkasa Selalu Sdn Bhd.

In a filing with Bursa Malaysia today, ARB said information technology arm ARB Development Sdn Bhd has entered into a Memorandum of Understanding with Perkasa Selalu on the proposed joint venture (JV).

Under the JV, ARB Development will provide smart home engineering system integration, procurement and commissioning of the project. The proposed contact value is RM78 million.

"The MoU will have a validity period of six months or until the
execution of the definitive joint venture agreement, whichever comes first," said ARB.

"The collaboration between ARB Development and Perkasa Selalu is expected to augur well for both parties," it added.

Shares in ARB closed up 5.5 sen or 15.07% at 42 sen today, giving it a market capitalisation of RM31.45 million.