PT Miel NUSANTARA DEVELOPMENT (Incorporated in the Republic of Indonesia)

PT. Miel Nusantara Development (“PTMND”) was incorporated on 19 April 1994 in Indonesia for the development of factory buildings in Medan under the Foreign Capital Investment Framework.

It is a joint venture between MIDF Property Berhad (formerly known as Malaysian Industrial Estates Berhad) (“MIDF Property”) of 80 per cent and PT. Harapan Tri Cakra (“PTHTC”) of 20 per cent.

PTMND was set up under the institutional framework of Indonesia-Malaysia-Thailand-Growth-Triangle (“IMT-GT”), which was initiated during the IMT-GT Ministerial Meeting held on 20 July 1993 in Langkawi, Kedah. It is a partnership which capitalises on MIDF Property’s innovative expertise and experience and PTHTC’s knowledge and experience on the local conditions.

The investment value of these projects is RM12 million (RP31 billion) and the provision of is factory buildings aimed to cater for the expanding needs of the fast growing industrial development in Medan.