THE Memorandum of Understanding (MOU) between the Solomon Islands Government and the Skyline Investment Group of Companies which was sealed on 7 August 2015 has now been cancelled.
Special Secretary to the Prime Minister (SSPM) Andrew Muaki said the MOU was terminated this week.
The news was already communicated to the Director of Skyline Investment Group, Jason Tao Liu.
One of the company’s proposed plans under the now canceled MOU was to construct 5000 affordable homes for public servants in Honiara and the provinces on a Build, Own and Transfer (BOT) model.
The decision to cancel the MOU was made after the Government was satisfied with legal advice obtained on the matter.
Mr Muaki clarified, that the termination of the MOU does not mean the company is stopped from investing in Solomon Islands.
The company can continue to remain or invest in the country in line with their business and investment plans in accordance with the laws of Solomon Islands.
Last month, the Government has also canceled another MOU with the Nazar Group of Companies.
Meanwhile, the Government’s MOU with the IRIS Corporation of Malaysia for the establishment of Information and Management system of Electronic Passports and Border Control is expected to be in full operation this year.