MQ Technology denies NagaCorp talks

Malaysia-listed MQ Technology has denied reports that it is in talks with Cambodia’s largest casino operator, NagaCorp, over plans to develop and manage a theme park in the Kingdom.

The company announced on Dec. 12 that it has signed a Memorandum of Agreement with Cambodian Resort and Entertainment to develop a Jurassic-themed entertainment park that will include a casino.

The project will be built on 5.1 acres in Bonteay Chakkrei, Prey Veng Province with a total investment of $51.1 million over six years.

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. However, the project doesn’t involve Hong Kong-listed Nagacorp as had been reported in local media.