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KUALA LUMPUR (Nov 8): ML Global Bhd has secured two housing development projects totalling RM270.5 million in Ijok, Selangor.
In a filing with Bursa Malaysia, ML Global said its wholly-owned MITC Engineering accepted the letters of award from Kemudi Ehsan Sdn Bhd yesterday to commence work this month.
For a contract sum of RM139.5 million, the first project entails the construction of 980 double-storey townhouses, with three units of Tenaga Nasional Bhd (TNB) substations, a guardhouse and a multipurpose hall, to be completed by April 2019.
The second project, valued at RM131 million, is to build 673 double-storey terrace houses, a two-storey community centre, a surau, a guardhouse and three TNB substations. The completion is scheduled for February 2019.
Kemudi Ehsan is a subsidiary of LBS Bina Group Bhd, which in turn is a substantial shareholder of ML Global. The contract would bump up the company and its group of companies’ outstanding order book to about RM2.39 billion, according to the filing.
“It is expected to contribute positively to the earnings and net assets per share of the company and the group over the contracts’ duration,” it added.
This article first appeared in The Edge Financial Daily, on Nov 8, 2017.
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