The Board of Directors of Fajarbaru Builder Group Bhd (“FBG” or “the Company”) wishes to announce that a Joint Venture Agreement (“JVA”) has been entered into on 21 August 2023 by Fajarbaru Land (M) Sdn Bhd (“FLM”), a wholly-owned subsidiary of FBG, for the purpose of working together as strategic partners with Care Dynamic Sdn Bhd (“CDSB”) through Fajarbaru Dynamic Development Sdn Bhd (“FDD”), to jointly undertake the development and construction of an Industrial City Park for 672 Units of Centralised Labour Quarters (56 Units x 12 Blocks) on a piece of land at Sg. Gadut, Seremban, Negeri Sembilan (“Plot A”) subject always to the final Kebenaran Merancang (Development Approval) to be obtained (“Project”).
Further details on the JVA are set out in the attachment.
This announcement is dated 21 August 2023.