Seac­era, Teras Sari ink deal on JV

New Straits Times - - Business -

KUALA LUMPUR: Seac­era Group Bhd has signed a me­moran­dum of un­der­stand­ing (MoU) with Teras Sari Re­sources Sdn Bhd to form a joint ven­ture (JV). Seac­era said the pro­posed JV was for im­ple­ment­ing the works and com­plet­ing Project Bekalan Air Karak, Pa­hang, should Teras Sari get the project. “The ra­tio­nale of the MoU is to pave the way for fur­ther dis­cus­sion and ne­go­ti­a­tion be­tween the par­ties in­volved prior to sign­ing any de­fin­i­tive agree­ment,” it said. Seac­era will own 51 per cent of the JV.

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