Pesona Metro Awarded RM410 Million Contract To Build 2 Apartment Blocks In Bukit Jalil

Pesona Metro Holdings has announced that its subsidiary has accepted the Letter of Award for the construction of 2 blocks of apartments in Bukit Jalil in a deal worth RM 410.5 million.

The contract will require Pesona Metro to build the 52-storey units, including mechanical and electrical systems, as well as landscaping for the client Tetuan Gaya Kuasa Sdn Bhd. This project is considered a recurrent related party transaction and is necessary for the day-to-day operations of the company, as per Paragraph 10.09 of the Listing Requirements.

The project is scheduled to last for 31 months, commencing from 1 June 2024. Furthermore, GKSB is 68% owned by Chin May Yong, who is the spouse of Wie Hock Kiong. Wie Hock Kiong is a common director and deemed major shareholder of PMHB. Additionally, Wie Hock Beng, who is a director and deemed major shareholder of PMHB, is the younger brother of Wie Hock Kiong and is connected to him. PMHB has stated that it will seek the shareholders’ mandate for the Recurrent Related Party Transaction in a general meeting as soon as practicable.

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