February 7, 2020 / 1:09 PM / 22 days ago

BRIEF-Berjaya Land Says Unit Entered Concession Agreement With Govt Of Yangon Region

Feb 7 (Reuters) - Berjaya Land Bhd:

* UNIT ENTERED CONCESSION AGREEMENT WITH GOVERNMENT OF YANGON REGION, REPUBLIC OF THE UNION OF MYANMAR

* AGREEMENT FOR COLLABORATION UNDERTAKING HOUSING & MIXED DEVELOPMENT PROJECT ON 12 PARCELS OF LAND

* ESTIMATED GROSS DEVELOPMENT VALUE OF PROPOSED DEVELOPMENT $746.08 MILLION

* PROPOSED DEVELOPMENT EXPECTED TO CONTRIBUTE POSITIVELY TO EARNINGS OF CO

* ESTIMATED PROFIT BEFORE TAXATION ABOUT USD131.16 MILLION OVER DURATION OF DEVELOPMENT UP TO COMPLETION

* UNDER CONSIDERATION OF RIGHTS GRANTED BY GOVERNMENT OF YANGON TO UNIT, UNIT TO PAY ABOUT $185.76 MILLION Source : (bit.ly/2S7KmVJ) Further company coverage:

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