Malaysia Pacific, Seacrest Land in Mongolia project

Posted on | April 14, 2007

By BUSINESS TIMES

MALAYSIA Pacific Corp Bhd is forming a joint venture company with Seacrest Land Ltd to develop a 22-storey luxurious apartment building and a clubhouse in Mongolia.

Seacrest will hold a 70 per cent stake in the joint-venture company while 30 per cent will be held by Malaysia Pacific Corp’s subsidiary Bedford PJ Complex Sdn Bhd.

The joint-venture company will develop the project in Ulaanbaatar, Mongolia, with Tsetsens LLC.

Malaysia Pacific Corp said the arrangement will give the group a chance to participate in the economic growth of Mongolia and explore opportunities to invest in exploration and mining operations there.

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