Signing of Memorandum Of Understanding

BackFeb 18, 2008
Naim Cendera Holdings Berhad ("the Company" or "Naim") is pleased to announce that it's wholly owned subsidiary, Naim Cendera Sdn. Bhd. ("NCSB") has entered into a Memorandum of Understanding ("MOU") with Sarawak Timber Industry Development Corporation ("STIDC") for the purpose of recording certain basic principles and understanding between the parties to jointly use their resources and expertise to develop a housing project on the parcels of land described as Lot 20 & 22 Buan Land District (hereinafter referred to as "the said land").

The said land belongs to STIDC and STIDC is desirous of appointing NCSB as the developer of the said land into a housing project.

The MOU shall remain in force for six (6) months from the date of the signing of the MOU unless mutually extended by the parties thereto.

None of the Directors or substantial shareholders of Naim or persons connected with them has any interest, whether direct or indirect in the MOU.

The signing ceremony was held at Tanjung Manis on Saturday, 16 February 2008.

Dated this 18th day of February 2008.