KUALA LUMPUR (Nov 28): Maxim Global Bhd is to undertake the decommissioning and upgrading of several sewerage treatment plants within the Alam Damai catchment area in Cheras under a privatisation deal with the government.

The project includes the provision of the necessary amenities and utilities via a land swap, said the property developer in a filing on Tuesday.

Maxim, via its 70%-owned indirect subsidiary F3 Cheras Development Sdn Bhd, has entered into a privatisation agreement with the Ministry of Natural Resources, Environment and Climate Change and government-owned Syarikat Tanah Dan Harta Sdn Bhd for the deal.

Under the agreement, Syarikat Tanah will transfer to F3 Cheras part of a land in Cheras.

Shares in Maxim closed one sen or 2.41% lower on Tuesday to 40 sen, giving the group a market capitalisation of RM294.24 million.