Monday, 26 Oct 2020
16/10/2020 07:59 PM

KUALA LUMPUR, Oct 16 -- MGB Bhd, through wholly-owned subsidiary MGB Construction & Engineering Sdn Bhd, today accepted a letter of award from Akitek Akiprima Sdn Bhd, on behalf of Koleksi Sigma Sdn Bhd worth RM193.7 million.

In a filing with Bursa Malaysia today, MGB said the award was for a housing development project at Tanah Simpanan Melayu Dengkil in Sepang, Selangor.

The construction group said for Phase 3B (Parcel 1), the project would include 432 units of double-storey townhouses, one community centre, one guard house and two Tenaga Nasional Bhd (TNB) substations. 

It said the Phase 3B (Parcel 1) project, to start this month, would be completed by December 2022.

Meanwhile, for Phase 3B (Parcel 2 and 3), the project will include 388 units of double-storey terrace houses, 342 units of single-storey terrace houses and three TNB substations, with no date of commencement stated.

With the contract in hand, the group’s current outstanding order book is about RM1.97 billion.

“The contract will have no effect on the issued share capital of the company but it is expected to contribute positively to the earnings and net assets per share of the company and the group over the duration of the contract,” it added.

Koleksi Sigma is a subsidiary of LBS Bina Group Bhd, a major shareholder of MGB.

-- BERNAMA

 

 

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