KUALA LUMPUR, May 20 (Bernama) -- EXSIM Hospitality Bhd’s wholly-owned unit, EXSIM Concepto Sdn Bhd, has secured a RM45 million development contract from AmFIRST Real Estate Investment Trust trustee, Maybank Trustees Bhd.
In a filing with Bursa Malaysia, EXSIM said the contract entails the construction and completion of the Summit Hotel USJ, a 17-storey hotel with three basement levels.
The contract commences on May 22, 2026, and is scheduled to be completed by phases - phase 1A and phase 1B to be completed by Oct 28, 2026, while phase 2 shall be completed by Dec 31, 2026.
EXSIM said the contract is expected to contribute positively to the net assets per share, earnings per share and net gearing of the company throughout the duration of the contract.
-- BERNAMA
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