Thursday, August 18, 2022

Jimei announces plans for entertainment resort project in Cambodia

Junket investor Jimei International Entertainment Group Ltd has announced it has entered into a framework agreement with two firms in relation to a possible entertainment resort project in Cambodia.

The property will include a hotel, golf course, theme park and other entertainment and tourism business in Cambodia, according to a filing from Jimei to the Hong Kong Stock Exchange.

The potential formation of the JV Company is subject to the further entering into formal agreements, which is currently still under discussion.

Under the agreement, Jimei Interntaional will be responsible for providing the land use right of a piece of land in Cambodia for the JV Company and all relevant consents, approvals, licenses, permits etc. in order to carry out development of the resort. 

Resort developer Yeejia Tourism Development Company Ltd is responsible for formulating the development project plan in respect of the JV Business and arranging for and procuring of financing for the project.

While MCC International Incorporation Ltd, a construction company will be responsible for the provision of engineering, construction and consultancy services. 

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