US-based GMCI Corp inks deals with Malaysia,...






2016

03 Oct


03 Oct 2016      GMCI

US-based GMCI Corp inks deals with Malaysia, China firms - Malay Mail




A US-based investment holding group, GMCI Corporation (GMCI), kickstarted their investments in Malaysia with the extension of their property portfolio via investments and agreement signings with three Malaysian companies and two China-based companies over the weekend.

These agreements include a Memorandum of Understanding (MoU) with property developer HLC Holding Bhd and a project partnership with upcoming mobile application development and technology company Aladdin Information Technology Co Ltd.

Additionally, GCMI moved to partially acquire precision parts manufacturer YCL Precision Engineering Sdn Bhd and entered into a joint venture with aesthetic wellness company Era Estetika Sdn Bhd to develop a signature medical spa.

The group also signed a MoU to invest in Heng Yue Group’s hotel project in Dongguan, China.

Group chief executive officer Calvin Chin said the group have put its main focus on the property development market, and it is well on-track with the partnership with HLC Holding Bhd to develop a 40-storey nature themed service apartment in Genting Highland.

“The corporation will also invest for the first time in China together with Heng Yue Group for the development of Xiyuan Hotel, a themed hotel near Huayang Lake,” Chin said.

He added that other key areas for the group include beauty, wellness and information technology.

Chin said the corporation, which comprises of 10% to 15% of Malaysian shareholders, are excited to kickstart their investments here.

“We are in the position to support our portfolio for business expansion with our strong network and expertise here.”

Chin said to support their growing portfolio here, GMCI will be opening of their first Southeast Asia office in Kuala Lumpur to support its business expansion here.

GMCI is currently listed in the NASDAQ OTC and is expected to be listed in the NASDAQ Composite Index by 2017/2018.

The group’s corporation assets are in form of companies acquired throughout the Asia region in six main sectors including mining, property development, manufacturing, beauty and wellness, education and information technology.

GMCI has an authorised share capital of four billion shares at market rate and is trading at an average of US$2 per share.