[%PalZ%] 
Research by MIDF
Buy – TP of MYR 2.05

“Strengthening Presence in Labu” 

Development rights for 1000 acres land in MVV2.0. Matrix Concepts announced that its wholly owned subsidiary, Megah Sedaya Sdn Bhd (MSSB) and NS Corp have entered into Development Rights Agreement to jointly develop 1,000 acres of freehold land in Malaysia Vision Valley 2.0 (MVV 2.0), Labu. The 1,000 acres of land shall acquire by NS Corp from Sime Darby Berhad while MSSB shall pay for the Development Rights by way of the settlement of the purchase price amounting RM435.6m. Matrix Concepts will hold 85% stake in the JV that undertake development of the 1,000 acres of land.

Analyst(s):
Jessica Low Jze Tieng
[%EKWt%]

$KLSE-MATRIX 
Research by MIDF
Buy – TP of MYR 2.05

“Strengthening Presence in Labu” 

Development rights for 1000 acres land in MVV2.0. Matrix Concepts announced that its wholly owned subsidiary, Megah Sedaya Sdn Bhd (MSSB) and NS Corp have entered into Development Rights Agreement to jointly develop 1,000 acres of freehold land in Malaysia Vision Valley 2.0 (MVV 2.0), Labu. The 1,000 acres of land shall acquire by NS Corp from Sime Darby Berhad while MSSB shall pay for the Development Rights by way of the settlement of the purchase price amounting RM435.6m. Matrix Concepts will hold 85% stake in the JV that undertake development of the 1,000 acres of land.

Analyst(s):
Jessica Low Jze Tieng
jessica.low@midf.com.my

$MATRIX / 5236 (MATRIX CONCEPTS HOLDINGS BERHAD)