MGB Secures Another Residential Project For RM172.3 Million

MGB Berhad has been awarded another mega project this time from Kita Sejati for residential properties in Sepang worth RM172.3 million.

The contract entails the provision of main building works for two 24-storey apartments, and one 8-storey building which comprises common area facilities and car parks. Construction works for this development project, which is located in Cybersouth are expected to commence in September 2022 for a duration of 15 months. This project is part of the KITA @ Cybersouth township development by LBS Bina Group Berhad.

This comes off from the company’s July announcement when it secured an RM225 million contract to construct, two 29-storey commercial service apartments at Taman Lestari Perdana, Bandar Putra Permai in the Petaling district.

MGB Executive Vice Chairman, Tan Sri Lim Hock San commented, “With this contract win, our construction order book strengthens to a healthy RM2.21 billion which provides earnings visibility in the coming years. Over the past month, MGB has secured contracts close to RM400 million. We are heartened that MGB is able to carry on with steady construction projects amidst these uncertain times for the construction industry.”

“Looking ahead, our primary focus is to ensure we deliver our construction projects on schedule without compromising on quality. The use of our internal IBS precast system has definitely helped with alleviating the labour shortage problem which is affecting the whole industry.

From the project’s front, MGB is looking forward to launching the 5 remaining Rumah Selangorku Idaman MBI projects which will take place throughout this year and 2023,” he said.

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