Oilcorp terminates JVA with Town and Country Prop

Posted on | January 17, 2008

By THE EDGE

KUALA LUMPUR: Oilcorp Bhd has terminated and revoked its joint venture agreement with Town and Country Properties Sdn Bhd to jointly-develop a 14,223 sq m land in Bentong.

“The said termination arrangement is derived subsequent to the approval from the Securities Commission on the proposed acquisition of TCPSB granted on Nov 21, 2007,” Oilcorp said yesterday.

It said the joint venture agreement was no longer required as TCPSB would be a wholly-owned subsidiary of Oilcorp upon the completion of the acquisition.

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