Firm makes computer components
MQ Technology Bhd, a Malaysian investment company, disputes recent reports that it would partner with Cambodia’s largest casino operator, NagaCorp, to develop and manage a Jurassic-themed amusement park in Prey Veng near the border with Vietnam.
The company announced December 12 that it has signed a memorandum of agreement with Cambodian Resort and Entertainment to develop a Jurassic-themed entertainment park with casino, reports the Asia Gaming Brief. The $50 million project will be constructed over six years and span 5.1 acres in Bonteay Chakkrei, Prey Veng Province.
MQ Technology will invest $5.1 million in the venture and its Star Acres unit will be also have exclusive rights to invest in further developments on the land. The Star newspaper reports that MQ, which manufactures computer parts, will construct the complex and CRE will operate the gaming side.
According to GGRAsia, the development will also include hotels and apartments. The partners have agreed to create a joint venture to develop and operate the US$5.1 million theme park. Star Acres will have a 70 percent stake in the joint venture and provide funding for the theme park.
Robbie Hari Krishnan Tatparandam, executive director of MQ Technology, told the Phnom Penh Post that the project is barely off the drawing board. “Right now, the agreement is just to conduct a feasibility study to see if the project has potential,” he said.
