December 6, 2008 / 2:39 AM / in 9 years

Malaysia's Asiatic in JV talks with Simon Property -report

KUALA LUMPUR, Dec 6 (Reuters) - Malaysian palm plantation firm Asiatic Development (ASIA.KL) is in talks with U.S.-based Simon Property Group (SPG.N) for a 2 billion ringgit ($550 million) joint venture, a newspaper reported on Saturday.

The deal involves setting up a mall on a 50-acre (20 hectares) site in the southern Malaysian state of Johor, the Edge business weekly said, citing unidentified sources.

Asiatic could not immediately be reached for comment.

Asiatic is 55 percent-owned by Malaysian gambling and leisure group Genting Bhd (GENT.KL). (Reporting by Varsha Tickoo; Editing by Jan Dahinten)

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