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KUALA LUMPUR (May 14): Encorp Bhd (KL:ENCORP) has entered into a memorandum of understanding (MOU) with KBI Properties Sdn Bhd to explore strategic partnership opportunities and potential collaborations in the property development sector, according to a press statement issued on Wednesday.
The MOU establishes a framework for both parties to jointly assess strategic development initiatives and projects of mutual benefit.
KBI Properties is a wholly-owned subsidiary of Koperasi Belia Islam Malaysia Bhd and is principally involved in property development and construction-related activities.
Under the collaboration, the two organisations will leverage their respective expertise, manpower and operational support to evaluate opportunities for long-term growth.
Encorp chairman Mohd Yusmadi Mohd Yusoff said the MOU reflects the group's commitment to expanding its strategic coalition and exploring value-accretive opportunities.
Encorp group CEO Ahmad Harzimi Mohd Taib added that the group remains focused on broadening its development pipeline and strengthening partnerships to enhance project visibility as the domestic property market improves.
KBI Properties chief executive officer Nor Azlan Ismail said the partnership is expected to enhance the company's capabilities in undertaking large-scale development projects.
The collaboration comes as Encorp advances ongoing developments, including Tilia Shah Alam and the next phase of Lamanda Chuping.
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