Siab said it had accepted a Letter of Award awarded by ISP Builder Sdn. Bhd. for the proposed Centralised Living Quarters development which consists of 1 block of 9-storey with 210 units of CLQ in Kapar Klang.
The RM 64.9 million project is expected to commence in August 2023 and be completed in 14 months from the date of commencement. SIAB said the acceptance of the LOA to undertake the Project is expected to contribute positively to the earnings, earnings per share, net assets, net assets per share, and gearing of the Company for the financial year ending 31 December 2023 and throughout the duration of the Project.
The LOA will not have any effect on the issued share capital and the shareholding of the substantial shareholders of SIAB.
