Paragon Globe Berhad announced that it mutually terminated the memorandum of understanding with Solarvest Holdings Berhad following the decision to restructure the Desa Cemerlang project, specifically on the disposal of 47.86 acres and 19.76 acres of freehold land within DESA 100 to Bridge Data Centres a total of 67.62 acres.
The MOU, which primarily focused on the development of a green industrial township within DESA 100, the group said is no longer relevant following the land sale.
"The decision to terminate the MOU with Solarvest was made after careful consideration of the evolving landscape of our Desa Cemerlang project," said Dato' Sri Edwin Tan Pei Seng, Executive Chairman of PGB. "However, we remain steadfast in our commitment to sustainable development and ESG principles. We value our partnership with Solarvest and look forward to exploring future collaborations once our revised plans are finalised."
"Our vision for Desa Cemerlang remains unchanged: to create a vibrant industrial hub that aligns with market needs, ESG goals, and the aspirations of Johor's stakeholders," concluded Dato' Sri Edwin Tan. "We thank Solarvest for their understanding and look forward to collaborating with them in the future."
