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LHN enters MoU to set up Malaysia JV for management services

CATALIST-LISTED LHN Group has inked a non-binding Memorandum of Understanding (MoU) with property developer LINBAQ and JG Land to provide management and lease services under the "Coliwoo" brand for at least 150 apartments at Space Residency in Malaysia. 

Space Residency is a development by LINBAQ. The management and lease services that are expected to be provided may include short- and long-term lease management, managing of rental income and expenses, as well as maintenance and repairs. 

If completed, the joint venture would be LHN's first project under the space optimisation business in Malaysia. The MoU has an exclusivity period of three months.

LHN shares closed at S$0.135 on Friday, up 3.85 per cent.