Koperasi Serbaguna Sanya Berhad (KOSAN) has held an Extraordinary General Meeting (EGM) followed by a Supplementary Agreement Signing Ceremony with the developer for the development of Wisma KOSAN land.
KOSAN and the developer, Harmoni Bumiria Sdn Bhd has signed a Joint Venture Agreement since Aug 2015 to develop the Wisma KOSAN land situated at the junction of Jalan Tuaran and Jalan Teluk Likas. Due to untoward circumstances, the development and signing of the Supplementary Agreement have been delayed for many years.
With the effort from KOSAN’s Board of Directors Chairman Datuk Ellron Angin and the new KOSAN’s Board of Directors, majority of KOSAN members have supported the development and agreed with the signing of the Supplementary Agreement.
Developer Representative, Mr Razman Abdullah (centre right) handing over of signed Supplementary Agreement to KOSAN's Deputy Chairman, Tn. Hj Wan Shah (centre left) with the witness of KOSAN's Chairman, YB Datuk Ellron (Centre) together with KOSAN's Board of Directors, Lawyer and Suruhanjaya Koperasi Malaysia.
During the EGM, Datuk Ellron Angin who is also the State Youth and Sports Minister expressed his wish that he could contribute more to the corporation and also hope that the newly elected Board of Directors will be united and work together to bring growth and flourishing to KOSAN.
During the Signing Ceremony, representatives from KOSAN and Harmoni Bumiria Sdn Bhd has signed the Supplementary Agreement. After signing the Supplementary Agreement, the developer issued the stage payment in cheque amounting RM1,450,000 to KOSAN.
Developer Representative, Mr Razman Abdullah (Centre Right) handing over of Mock Cheque to KOSAN's Deputy Chairman, Tn. Hj Wan Shah (Centre Left) with the witness of KOSAN's Chairman, YB Datuk Ellron (Centre) together with KOSAN's Board of Directors, Lawyer and a representative from Suruhanjaya Koperasi Malaysia.
Both KOSAN and the developer have agreed to develop the land into a mixed development of commercial, office spaces and 650 units of Service Suites; namely LikasVue project. The development will serve to provide an investment opportunity for those who would like to invest or own a property in Likas district.
The shareholder of Harmoni Bumiria Sdn Bhd is Asian Pac Holdings Berhad (“Asian Pac”). Asian Pac is a public-listed company on the main board of Bursa Securities Malaysia Berhad [Bursa: ASIAPAC].
Asian Pac Group is principally engaged in investment holdings, property development and investment, shopping mall, car park ownership and management, as well as trading of building materials.
In Sabah, Asian Pac Group is also the developer of Karamunsing Capital, KK Times Square Signature Office, The Loft Residence, Imago Shopping Mall and, the latest being Rimba Hills at Kinarut.