Metacorp is actively seeking business venture both locally and overseas
that will provide long term sustainable earnings.
Australia
On 20 September 2004, Metacorp via its wholly-owned subsidiary Metacorp
Australia Pty Ltd entered into a Share Sale Subscription Agreement to
acquire a 50% stake in Whitsundays Hermitage Pty Ltd. a construction and
property development outfit that is currently developing an 8-storey
resort apartments in Queensland, Australia.
The
8-storey Blue Horizon Resorts Apartments comprising resort apartments
and offices is scheduled for completion by June 2007. A total of 17 of
the
28 twin key units of apartments have been taken up to date.
Indonesia
On 13 December 2005, Metacorp signed a memorandum of understanding with
PT Bintang Sinomast Limited, Hong Kong (PTBS) to develop and operate the
coal terminal in the Port of Cigading, West Java, Indonesia. A
Joint Venture company called Sinomast Metacorp (Labuan) Ltd was
subsequently incorporated on 50:50 basis.
Vietnam
On 30 May 2006, Metacorp via its newly acquired subsidiary MTD-Sadec Sdn
Bhd entered into a Joint Venture Agreement with Saigon Jewellery Company
(SJC) a state owned entity on 60:40 basis to develop, build, operate and
manage the SJC Tower, a 45-storey commercial complex comprising
apartment, sky villas, offices, retail spaces, function and banquet
halls and car parking for sale and/or lease.
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