The Board of Directors of Fajarbaru Builder Group Bhd (“FBG” or “the Company”) wishes to announce that Fajarbaru Builder Sdn Bhd (“FBSB”), a wholly-owned subsidiary of FBG has on 27 June 2023 entered into a Memorandum of Understanding (“MOU”) with Penang Development Corporation (“PDC”) to explore all possible opportunities to develop approximately 230 acres of land located in Bandar Cassia, Mukim 13, Batu Kawan, Seberang Perai Selatan, Pulau Pinang (“Proposed Land”) for the development of a medical hub.
Further details on the MOU are set out in the attachment.
This announcement is dated 27 June 2023.