Beleaguered company Innopac Holdings announced that its wholly-owned subsidiary Awana Rentak has entered into a memorandum of understanding (MOU) with Malaysian developer Wanland Metro in relation to a joint venture to develop land in Tanjung Malim, Perak, Malaysia.

Awana Rentak currently owns 48.4 acres of industrial land in Tanjung Malim, which it has unsuccessfully tried to sell in the last two years.

See also: Innopac to acquire shares in FEC Power

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