New Straits Times

LBS, NWP in Zuhai circuit joint venture


KUALA LUMPUR: LBS Bina Group Bhd has entered into a heads of agreement with

NWP Holdings Bhd to jointly undertake a developmen­t project relating to the transforma­tion of Zhuhai Internatio­nal Circuit (ZIC) in China. LBS has a 60 per cent stake in ZIC. Under the agreement, LBS will be subscribin­g to 1.1 billion NWP shares, representi­ng 73.7 per cent of the latter’s shares, for a RM93.5 million. The price represents a 35 per cent discount against NWP’s closing price of 13 sen on March 2.

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