BUSINESS

SIAB UNIT ACCEPTS LOA TO DEVELOP RESIDENTIAL PROJECT WORTH RM106.80 MLN

27/11/2023 07:15 PM

KUALA LUMPUR, Nov 27 (Bernama) -- Siab Holdings Bhd's wholly-owned subsidiary, Siab (M) Sdn Bhd (Siab M), has accepted a letter of award (LoA) recently from Murni Lapisan Sdn Bhd (MLSB) for the proposed residential development project in Pantai Sentral, here, for RM106.80 million.

The project entails one block of 32-storey building with 336 apartment units with six levels of podium car park, one floor of resident facility, and two units of electrical substation.

In a filing with Bursa Malaysia, the company said the duration of the project is 34 months with the date of mobilisation on November 27 and date of commencement on Dec 12, 2023.

The company said the project by Siab M is expected to contribute positively to the earnings and net assets of the company for the financial year ending Dec 31, 2023 and throughout the duration of the project.

It also said the contract would not have any effect on the issued share capital and the shareholding structure of the company. 

-- BERNAMA

 

 


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