Strong rumours circulating ‘in the market’ about Johor Corporation recently concluded the decision to hive off its group of project management, property development, construction and integrated facility management arm, Damansara Realty Bhd.
Details are sketchy but it is strongly believed that the two Johor born individuals would benefit from the sale as acquirer and eventually would be the new shareholders.
One of the individuals has been said to be a prominent member of the ruling feudal family of one of Malaysian states where as the other is a believed to be a very well known Batu Pahat son.
JCorp is the most successful and profitable state economic development corporation. This time last year, the devouring of JCorp’s cash cow was discussed here.