MGB Secures RM225 Million Contract For 2 Apartment Block Construction In Selangor

MGB Berhad through its subsidiary MGB Construction & Engineering Sdn. Bhd. has accepted a letter of award from Akitek AKIPRIMA Sdn. Bhd. on behalf of Utuh Aspirasi Sdn. Bhd. for the construction of 2, 29-storey apartment blocks in Taman Lestari Perdana, Bandar Putra Permai Selangor.

Under phase 1, MGB will construct Tower A comprising 725 units of commercial apartment units for RM145.7million and phase 2 will be Tower B consisting of 725 apartment units with a project value of RM79.2 million. MGB said the latest contract will increase and enhance its existing order book, the group’s current outstanding order book is approximately RM2.08 billion.

The group adds that 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. The project is expected to be completed in 2025.

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