(Front row, from left) Lim Fang Ching, Ekovest Berhad special project director; Li Hong Ming, chairman of Anxi's Overseas Chinese Affairs Office; and Jack Yap Tong Aun, general manager of MX Malaysia after the signing of the tripartite MOU.

KUALA LUMPUR (July 26): Ekovest Bhd has signed a tripartite memorandum of understanding (MOU) with China-based parties to explore cross-border socio-economic strategic collaboration.

In a filing to Bursa Malaysia on Wednesday (July 26), Ekovest said it has signed the collaboration agreement with Shenzhen Maoxiong Co Ltd (MX) and Anxi County People's Government (Anxi).

The agreement involves joint efforts in property and infrastructure development, fresh produce, agriculture, and aquaculture distribution and processing development in Malaysia and China.

Anxi is a county of the prefecture-level city of Quanzhou in the southern Fujian province of China. MX is involved in the plantation, processing, storing and distributing vegetables and fruits.

Equipped with high standards and modern facilities sprawling over 10,000 square metres and a cold storage capacity of over 30,000 square metres, MX oversees expansive farming areas of more than 30,000 mu across China.

“We look forward to exploring the synergies this collaboration will undoubtedly bring. Ekovest will employ its extensive experience in construction, infrastructure development, and property development to facilitate infrastructure development under the MOU,” said group executive chairman of Ekovest Tan Sri Lim Kang Hoo.

The parties aim to immediately focus on durian processing and explore infrastructure development within China and do not discount the potential expansion of their collaboration beyond China and Malaysia, should this initiative prove successful.

Ekovest shares closed one sen higher or 2.53% to 40.5 sen, valuing the group at RM1.08 billion.