Latest news with #JointDevelopmentAgreement
The Sun
2 days ago
- Politics
- The Sun
Malaysia, Indonesia review JDA for Sulawesi Sea maritime dispute
KUALA LUMPUR: Malaysia and Indonesia are still studying the possibility of a Joint Development Agreement (JDA) to address the maritime boundary dispute in the Sulawesi Sea, said Foreign Minister Datuk Seri Mohamad Hasan. He said the JDA is an initial effort to find the best solution for both countries, with no details finalised at this stage. 'It is still under early discussion between both countries and any decision must be mutually beneficial,' he said during a question-and-answer session in the Dewan Rakyat today. Mohamad said the federal government continues to work closely with the Sabah government in all negotiations related to maritime delimitation between Malaysia and Indonesia. He was responding to a question from Isnaraissah Munirah Majilis (Warisan-Kota Belud) regarding the proposed JDA in blocks ND 6 and ND 7 in the Sulawesi Sea, and whether it would follow the Malaysia-Thailand Joint Development Authority (MTJDA) model or another approach, considering that the rights of Sabah and Sarawak are protected under the Malaysia Agreement 1963 (MA63). Mohamad Hasan reiterated that the federal government values Sabah's views to ensure Malaysia's sovereignty and interests are protected. He said maritime boundary discussions are conducted carefully and based on legal and technical principles. Responding to a question on briefing Sabah MPs and assemblymen on the issue, Mohamad said the Foreign Ministry's Maritime Affairs Department is ready to brief Parliament members and Sabah representatives to prevent misunderstandings and slander. 'We will arrange a suitable date to avoid the issue becoming a thorn in the flesh or a source of slander, especially ahead of the Sabah state election,' he said. On the International Court of Justice (ICJ) ruling over the Sipadan and Ligitan islands, Mohamad said the decision is unrelated to the Sulawesi Sea dispute. The ruling only concerned the determination of a straight coordinate line at four minutes 10 seconds, based on the positions of Sipadan and Ligitan Islands, and did not refer to the Sulawesi Sea. 'Like the Batu Puteh ruling, the ICJ decision involved only the specific territory, not the surrounding areas. Negotiations with Indonesia on the JDA continue and there will be no unilateral decisions,' he said. Legally, Malaysia follows the United Nations Convention on the Law of the Sea 1982 (UNCLOS), which defines the baseline or intertidal zone based on the lowest tide level. 'Indonesia argues that the area is sea at high tide, but Malaysia adheres to the internationally recognised interpretation based on low tide,' Mohamad said. - Bernama
Time of India
23-07-2025
- Business
- Time of India
Sunteck Realty forms JV to develop Rs 1,200 crore worth housing project in Mumbai
Sunteck Realty Ltd has partnered with a landowner to develop a luxury housing project in Mumbai for Rs 1,200 crore. In a regulatory filing on Wednesday, Sunteck Realty informed that it is entering a Joint Development Agreement (JDA) for a project on the land admeasuring 3.5 acres situated at Mira Road on Western Express Highway, Mumbai. Explore courses from Top Institutes in Please select course: Select a Course Category Artificial Intelligence Healthcare CXO others Digital Marketing Leadership Finance PGDM Project Management healthcare Data Analytics Cybersecurity Data Science Technology Degree Others MBA Public Policy Management Data Science Operations Management MCA Design Thinking Product Management Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details The company expects to generate a sale component of 5.5 lakh square feet RERA carpet area from the development of this land parcel. "The projected Gross Development Value (GDV) of the project is estimated at Rs 1,200 crore," the company said. Sunteck Realty is one of the leading real estate developers in the country.
News18
23-07-2025
- Business
- News18
Sunteck Realty forms JV to develop Rs 1,200 cr worth housing project in Mumbai
Mumbai, Jul 23 (PTI) Sunteck Realty Ltd has partnered with a landowner to develop a luxury housing project in Mumbai for Rs 1,200 crore. In a regulatory filing on Wednesday, Sunteck Realty informed that it is entering a Joint Development Agreement (JDA) for a project on the land admeasuring 3.5 acres situated at Mira Road on Western Express Highway, Mumbai. The company expects to generate a sale component of 5.5 lakh square feet RERA carpet area from the development of this land parcel. 'The projected Gross Development Value (GDV) of the project is estimated at Rs 1,200 crore," the company said. Sunteck Realty is one of the leading real estate developers in the country. PTI MJH MJH SHW First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
23-07-2025
- Business
- Time of India
Adani group firm to develop Paytm's IT complex in Noida
NEW DELHI: Adani group firm Manorview Developers will develop IT and ITes complex of fintech firm One97 Communications , which owns Paytm brand, in Noida , the company said in a regulatory filing. Paytm was allocated a 10-acre plot in Sector 159 of Noida for the development of the complex in 2018 by the Noida Authority. "We wish to inform you that the company has now taken a fresh step by proceeding to develop the project independently. Accordingly, the board has approved the proposal to appoint M/s Manorview Developers Private Limited, a wholly-owned subsidiary of Adani Infrastructure and Developers Private Limited, as the Engineering, Procurement, and Construction (EPC) Contractor, subject to execution of definitive agreements in this regard," the filing said. In January 2024, Paytm's board had approved execution of a joint development agreement (JDA) between the company and ACE Builders and Promoters to develop the complex. Under the arrangement, ACE was to raise requisite capital and funds for the development of the IT/ITES complex. "In continuation of our earlier disclosure dated January 19, 2024, we also wish to inform that the proposed Joint Development Agreement (JDA) with M/s ACE Builders and Promoters Private Limited could not be proceeded with in line with NOIDA rules and byelaws," the filing said.
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Business Standard
22-07-2025
- Business
- Business Standard
Adani group firm to develop Paytm's IT complex on 10-acre plot in Noida
Adani group firm Manorview Developers will develop IT and ITes complex of fintech firm One97 Communications, which owns Paytm brand, in Noida, the company said in a regulatory filing. Paytm was allocated a 10-acre plot in Sector 159 of Noida for the development of the complex in 2018 by the Noida Authority. "We wish to inform you that the company has now taken a fresh step by proceeding to develop the project independently. Accordingly, the board has approved the proposal to appoint M/s Manorview Developers Private Limited, a wholly-owned subsidiary of Adani Infrastructure and Developers Private Limited, as the Engineering, Procurement, and Construction (EPC) Contractor, subject to execution of definitive agreements in this regard," the filing said. In January 2024, Paytm's board had approved execution of a joint development agreement (JDA) between the company and ACE Builders and Promoters to develop the complex. Under the arrangement, ACE was to raise requisite capital and funds for the development of the IT/ITES complex. "In continuation of our earlier disclosure dated January 19, 2024, we also wish to inform that the proposed Joint Development Agreement (JDA) with M/s ACE Builders and Promoters Private Limited could not be proceeded with in line with NOIDA rules and byelaws," the filing said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
