PRESS STATEMENT / SIARAN AKHBAR
(FOR IMMEDIATE RELEASE)
ENCORP BERHAD SEALS JVA WITH TOUCH GROUP HOLDINGS SDN BHD FOR A DEVELOPMENT IN TELUK CEMPEDAK, KUANTAN
Friday, 9 September 2022, Selangor – Encorp Construction & Infrastructure Sdn Bhd (ECISB), a wholly-owned subsidiary of Encorp Berhad (ENCORP) and Touch Millennium Sdn Bhd (TMSB), a wholly-owned subsidiary of Touch Group Holdings Sdn Bhd (TGH), today formed a partnership through a 70:30 Joint Venture (JV) to develop a commercial mixed development project worth over RM400 million on a 4.97-acre land in Teluk Cempedak, Kuantan, Pahang.
The project is expected to commence in the first quarter of 2023 and is expected to be completed by the fourth quarter of 2027.
The development is strategically located at Kuantan’s iconic Teluk Cempedak beach, a popular destination where one can enjoy the long sandy beach and breeze of the South China Sea. Teluk Cempedak is a very popular destination for families and groups looking to enjoy the many facilities and F&B outlets in the area. The development also boasts exciting immediate surrounding for families, business leisure and outdoor lovers alike such as exploring the Kuantan Botanical Garden and Taman Teruntum Zoo, golfing at Royal Pahang Golf Club and hiking the Teluk Cempedak Trails to picnic at the more private Tanjung Tembeling cove. Being at the doorstep of Kuantan City, the site also has great connectivity to medical facilities like Tengku Ampuan Afzan Hospital and KPJ Pahang Specialist Hospital, higher learning institutions like University College Yayasan Pahang, UiTM Kuantan, UNITAR Kuantan and International Islamic University Malaysia as well as landmarks like Sultan Alam Shah Mosque, East Coast Mall and the Stadium Darul Makmur.
The Joint Venture Agreement (JVA) was signed between Encik Hazurin bin Harun, the Group Chief Executive Officer of ENCORP and YM Raja Dato’ Idris bin Raja Halid, the Group Chief Executive Officer of TGH. Also present to witness the signing of the agreement this morning at Encorp Berhad were Tuan Haji Sr. Mohd Ali bin Abd Karim, the Chairman of ENCORP and YM Raja Dato’ Sri Mufik Affandi bin Raja Khalid, the Chairman of TGH.
Commenting on the JVA, Group Chief Executive Officer of ENCORP, Encik Hazurin Bin Harun said, “It is a strategic move for ENCORP as it will ensure the sustainability of the company by building our land bank and forming strategic partnerships with owners of land in good locations.”
“We are pleased to have the opportunity to join forces with Touch Group Holdings to unlock the value of its land bank and to create a unique and exceptional mixed development that complements and enriches the landscape of Teluk Cempedak.”
“Touch Group Holdings look forward to working closely with ENCORP and hope that this maiden project shall be the forerunner to more dynamic collaborations in the future” said Raja Dato’ Idris of Touch Group.
ENCORP debuted on Bursa Malaysia’s Main Board in 2002. In addition to construction, ENCORP is also an active player in the local property development sector. The JVA follows a string of favourable news for ENCORP which is most recognised for developing its Encorp Cahaya Alam residential and commercial development in Shah Alam and the commercial and shopping mall development of The Strand in Kota Damansara.
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About Encorp Berhad (ENCORP)
Listed on the Main Market of Bursa Malaysia (Ticker: ENCORP/6076), ENCORP is principally an investment-holding company. The Group is currently involved in three core businesses – property development, property investment and construction. For more information, visit encorp.com.my
Touch Group Holdings
Touch Group Holdings Sdn Bhd (TGH) is an investment holding company with business interests in telecommunication, renewable energy, property management, agriculture, security services, hospitality, construction, tourism, F&B, security services and ICT. TGH aims to be one of Malaysia’s successful conglomerates and a leading player in the various industries that they operate in, striving always to deliver excellent financial results and be a positive impact on society. Please visit www.touchgroup.com.my for more information.
For more information, please contact:
Encorp Berhad (ENCORP)
Muhammad Arif Bin Abdul Kahar
Executive, Corporate Communications
Tel: 03-6286 7789 / 012 934 1939
Fax: 03-6286 7799
Touch Group Holdings
Nurliyana Binti Mohamad Kamarudin
Head, Group Corporate Office
Tel: 03-42465977 / 012 6036746
Fax: 03-4256 5922