28 March 2022

Please click HERE for the Mandarin version of the deal update.

‘Encorp Berhad in joint venture with FELDA to complete development project in Padang Siding, Perlis.’

Zul Rafique & Partner’s Corporate Energy and Utilities/Corporate Liability & Risk Management practice group Partner, Hamdi Abdullah together with our Associate, Muhammad Haziq Shafe’ee advised and acted for Encorp Berhad in a Joint Venture Agreement with FELDA to jointly complete the development project on the land belonging to FELDA on Mukim of Padang Siding, District of Perlis, in the State of Perlis Indera Kayangan.

The Joint Venture is aimed to complete the development of Phase 1 of the Project consisting the construction of 158 units of low cost houses, 66 units of medium cost houses and 17 units of shop houses that was deferred previously and to continue with Phase 2, with the construction of further 102 units of low cost houses, 56 units of medium cost houses and 13 unit of shop houses. This transaction was made possible with the advice of our partner, Hamdi Abdullah and his team, with parties completing the signing on 22 March 2022 in a ceremony witnessed by FELDA Chairman, Dato' Seri Haji Idris bin Jusoh.

The Joint Venture was announced on Bursa Malaysia on 22 March 2022, HERE.

This joint venture was also featured in:

The Edge on 22 March 2022, HERE; and

I3investor on 23 March 2022, HERE.

For more insights into this area of law, please contact our Partners in the Energy & Utilities Practice Group:
Lukman Sheriff Alias
Michele Chong
Hamdi Abdullah
Teh Hooi Woon

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