KUALA LUMPUR (May 25): Permaju Industries Bhd’s 70%-owned subsidiary Hardie Development Sdn Bhd has received a letter of offer from Permanent Engineering Sdn Bhd in a relation to the development of a Mydin hypermarket at a development cost of a maximum of RM150 million.
Permaju said on Friday that the hypermarket would be located at its project known as Princess Heights in Sabah.
The company said the terms of the offer were that the hypermarket be leased to Mydin Mohamed Holdings Bhd with a lease tenure of 20 years.
Permaju said that Hardie Development would conduct a detailed feasibility study on the proposed development, and announce further development in future.