TH PROPERTIES SIGNS MOU WITH TSR CAPITAL
TO EXTEND COLLABORATIVE BUSINESS VENTURES
Kuala
Lumpur, 13 August 2008 - TH Properties
Sdn Bhd, a wholly owned subsidiary of Lembaga
Tabung Haj and TSR Capital Berhad which entered
into a joint venture to develop an integrated
medical city at Bandar Enstek called medical
city@enstek, have extended the spirit of their
cooperation to other business and development
opportunities.
A Memorandum of Understanding (MoU) to this
effect was signed recently in Kuala Lumpur between
Hj Zaharuddin Saidon, Chief Executive Officer
of TH Properties and Tengku Datuk Mustapha bin
Tengku Mohamed, Director of TSR Capital.
Under the terms of the MoU, TH Properties and
TSR Capital will pool their resources, knowledge,
expertise and good faith to explore other project
developments. Three initial projects which have
been identified include 78.23 acres of land
in Kuah, Langkawi, 1,000 acres of land in the
Kuantan HighTech Park and 4,427.3 square metres
of land located in Mutiara Damansara, Sungai
Buloh.
Said Hj Zaharuddin, "Having established a successful
joint venture and cooperation on medicalcity@enstek
with TSR Capital, we are pleased to extend this
collaboration to future business ventures as
it has been proven that we can work together
for mutual benefits beyond the existing joint
venture.
"Under the MoU, our cooperation will not be
limited to these initial projects and we will
continue to search for other lands, properties
or potential cooperation for mutual benefits,"
said Hj Zaharuddin.
medicalcity@enstek will locate the entire medical and health industry value chain within a 528-acre development at Bandar Enstek which is set to be the region's prime education centre in medicine. About 162 acres are earmarked for the first phase of the medicalcity@enstek will be developed at an estimated RM 1.1 billion which is to be completed in 5 years.
medicalcity@enstek will house a university hospital, medical health research centre, medical complex, commercial centre, convention centre, hotels and students hostels under the Private Finance Initiative (PFI) model.
It will be positioned as the centre for the development of biotechnology in bio-medical, bio-pharmaceutical and nutraceutical industries. It will also be a referral centre for medical, pharmaceutical and related biotechnology industries.
Currently home to a population of over 5,000, Bandar Enstek is a RM9.2 billion integrated township set over 5,116 acres of prime land featuring uniquely designed residential enclaves surrounded by lush vegetation nestled within a meticulously planned knowledge-based community.
Bandar Enstek recently received the 2007 award for 'Urban Planning Achievement in Township Development' from the Malaysian Institute of Planners for demonstrating high planning quality and complied with the planning standards and requirements which fulfilled the principles of sustainable development and presentation format.
Located close to Putrajaya, Cyberjaya, the Sepang FI Circuit, KLIA and the LCC Terminal, Bandar Enstek has been recognised as a unique, well-balanced township with ecological consciousness and high technology as its central features. The township is accessible via the existing N68, the North-South Highway or the Elite Expressway.
About TH Properties Sdn Bhd
TH Properties is a wholly owned subsidiary of Lembaga Tabung Haji (Funds Management Institution under the purview of the Prime Minister's Department). TH Properties is the Development Manager of Bandar Enstek, a joint venture effort with the Negeri Sembilan State Development Corporation (PKNNS) via TH-NSTC Sdn Bhd, which is the master developer. This 5,116-acre integrated township features an extensive network of residential, commercial, industrial and institutional components with technologically-advanced infrastructure and facilities making it the first planned knowledge-based community in Malaysia. Upon completion in 2025, Bandar Enstek will have a Gross Development Value estimated at almost RM9.2 billion. For more information please visit our website at www.th-properties.com
About TSR Capital Berhad
TSR Group was listed under the Main Board of Bursa Malaysia Securities Berhad ("BMSB") on 26 March 2002 through its investment holding company, TSR Capital Berhad. Currently, TSR Group consists of a holding company and 14 subsidiary companies where its principal activities are construction & civil engineering works, manufacturing and marketing of precast concrete products, geotechnical works and housing and property development. TSR Capital Berhad ("TSR Group") today has paid up capital of RM113.3 Million.
