PETALING JAYA: MGB Bhd’s subsidiary MGB Construction and Engineering Sdn Bhd today accepted a letter of award from Casa Inspirasi Sdn Bhd for a proposed development project worth RM194.72 million.
In a filing with Bursa Malaysia, the company said the proposed 1.67-hectare development project in Tanah Rata, Cameron Highlands, Pahang comprises a two-storey fast-food restaurant in phase one while phase two includes a 22-storey service apartment.
The service apartment will have four levels of underground parking,
Both will commence on Feb 17 and will take 28 months to complete.
“With the contract in hand, the group’s current outstanding order book is about RM1.27 billion.
“The contract will have no effect on the issued share capital but it is expected to contribute positively to the earnings and net assets per share of the company and the group throughout the contract,” it said.