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KUALA LUMPUR (September 5): Pesona Metro Holdings Bhd’s unit, Pesona Metro Sdn Bhd, has secured a RM264.3 million contract to build two blocks of serviced apartment in Bandar Sri Damansara, Petaling Jaya, Selangor.
The contract was awarded yesterday by Indo Aman Bina Sdn Bhd, which is a wholly-owned unit of TA Global Bhd and the project’s employer.
In a filing to Bursa Malaysia, Pesona Metro said the proposed development comprises two blocks of serviced apartments at 33 storey and 28 storey each, carpark, and residential facilities.
It said the 32-month project started on Aug 15 and will end on April 14, 2021.
“The project is expected to be funded via internally-generated funds and accordingly, has no effect on the gearing of the group,” it said, adding the job is expected to contribute to its earnings and enhance its net assets during the contract duration.
Shares in Pesona Metro rose 1.5 sen or 4.62% to close at 34 sen yesterday, giving it a market capitalisation of RM236.28 million. The stock retreated about 39% if compared with its closing price of 55.9 sen a year ago.
This article first appeared in The Edge Financial Daily, on Sept 5, 2018.
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