Seremban Engineering Berhad via its wholly-owned subsidiary, SEB Construction Sdn. Bhd. had received letters of award from IBN Highland Sdn. Bhd. appointing it to build a two 29-storey service apartment in Genting Highlands for RM161.8 million.
The contract work will include undertaking the main building architectural works, mechanical & electrical works, interior design works, and associated external works for 2 blocks of 29-storey services apartment at Highland City, Genting Permai at Bentong, Pahang.
The total value and the duration are determined based on the overall period of completion of twelve months from the date of commencement, which is expected to commence on 27 October 2023 and to be completed on 26 October 2024.
The Contract will have no effect on the total issued share capital of the Company. It is expected to contribute positively towards the earnings and net assets per share of the Company for the duration of the Contract.
SEB will fund the contract via internally generated funds and/or external borrowings.
