Posts Tagged ‘Medini Empire’

Joint ventures partners signing in agreements

RM 4 Billion Worth Investment on Iskandar by Joint Ventures

Written by Satthiya Kandi on . Posted in Latest Headlines

Mammoth Empire Holdings has merged with the Iskandar Investment Berhad (IIB) is a fully owned subsidiary by Medini Land Sdn. Bhd and Mammoth Empire’s Mammoth East west Sdn.Bhd. The two business giants conjoined and now they have taken the initiative to develop Medini Empire, a RM 4 billion worth project, namely integrated commercial development in Medini Iskandar.

As the construction works will commence on in two years’ time which is in 2015, the Medini Empire will be developed into and comprise of several buildings such as the “office towers, hotels, serviced apartments, lot offices, retail space, convention centre, concert hall, cinema, and specialist retail shop,” said Syed Mohamed.

In line with this, Mammoth Empire Holdings and the Iskandar Investment Berhad conjoined with Cosmolane Development Sdn. Bhd has signed an agreement for the subscription shareholders and lease purchase agreements. The project later on will be named as Empire Iskandar Sdn. Bhd with major 60% of share hold by Mammoth Empire and the remaining 40% by Medini Land.

The Iskandar Investment Berhad was represented during the agreement signing ceremony, while their partner Mammoth Empire was represented by Group Executive Director Datuk Danny Cheah Joi Yong and Group Managing Director Datuk Sean Ng.

“In the meantime, the Mammoth Empire can enhance and strengthen its strategic position with it new partner support” said Cheah. Apart from that, the partners can also be perceived as “committed to further invest in this region (Iskandar Malaysia) to realise the vision of generating property developments to meet the current lifestyle demands.”

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