Shanghai developer builds infrastructure in Malaysia

Shanghai-listed Greenland Holdings Corporation Limited announced on Tuesday that the company has signed memorandum of understanding for two investment projects in Kuala Lumpur, Malaysia, as a part of its efforts to expand business in the country, following the Belt and Road Initiative.

According to the MOU, Greenland plans to participate in a highway construction program that uses its infrastructure arms and resources.

This is the first time that one of China's top 10 developers, by market value, plans to participate in an overseas infrastructure project.