BUSINESS

MGB UNIT BAGS RM172.34 MLN DEVELOPMENT PROJECT

11/08/2022 06:40 PM

KUALA LUMPUR, Aug 11 (Bernama) -- MGB Bhd announced that its wholly-owned subsidiary, MGB Construction & Engineering Sdn Bhd (MGBCE), has accepted a letter of award from Kita Sejati Sdn Bhd for the proposed development project worth RM172.34 million. 

The project involves two blocks of 24-storey serviced apartments comprising 843 units and 211 affordable units; one block of eight-storey building with facility at ground floor and level one; seven-storey podium car park; one guard house; and one refuse chamber. 

In a filing with Bursa Malaysia, MGB said the contract will increase and enhance the company and group's existing order book.

“With the contract in hand, the Group’s current outstanding order book is of approximately RM2.21 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 said. 

MGB added the date of commencement is scheduled on Sept 1, 2022 (or to be advised) and date of completion on Nov 30, 2023.

-- BERNAMA

 

 

 

 

 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy