Malaysia-based gefung holdings enters into mou with Indonesian property developer

KUALA LUMPUR, March 10 (Bernama) -- Gefung Holdings Bhd has announced that
it has entered into a memorandum of understanding (MoU) with PT Greenworld
Development,to undertake a mixed development project of approximately 20.53
hectares (50.74 acres), in the east of Jakarta, Indonesia.

PT Greenworld Development is a property developer and investment company.

In its filing to Bursa Malaysia (Malaysia's stock exchange), Gefung said the
proposed involvement in property development is in line with the long-term
strategic view of the Gefung Group, to diversify its revenue stream.

Greenworld's present registered capital is US$2 million.

Gefung Holdings, with operations in Malaysia, China and Turkey is a
multinational company engaged in the processing of high quality marble and
granite products.