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Article: MALAYSIAN TEXTILE RETAILER INVESTS IN BRUNEI VENTURE.
- Article from:
- AsiaPulse News
- Article date:
- March 25, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KUALA LUMPUR, March 25 Asia Pulse - Kamdar Group (M) Bhd (KLSE:8672) is expanding to Brunei with an investment of RM1.2 million (US$330,989) in a joint venture with PG Salleh AB Rahaman P.H. Damit.
In a filing with Bursa Malaysia Monday, the textile retailer said a joint venture company, Kamdar (BRU) Sdn Bhd (KBSB), would be set up.
"Wholly-owned subsidiary, Kamdar (B) Sdn Bhd, will hold 70 per cent stake in KBSB while PG Salleh will hold 30 per cent," it said.
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