Meta Bright bags RM60m job to supply concrete to mixed development in Sabah

• The five-year contract was awarded to its 70%-owned unit Expogaya Sdn Bhd, who will supply the concrete to Megamas Jaya Sdn Bhd and its appointed procurement representative, Pembekal Mewah Enterprise Sdn Bhd.

KUALA LUMPUR (Nov 15): Meta Bright Group Bhd (KL:MBRIGHT), a diversified Main-Market listed company, has secured a RM60 million contract to supply ready-mixed concrete for the 88 Avenue mixed-development project in Kota Kinabalu, Sabah.

The five-year contract was awarded to its 70%-owned unit Expogaya Sdn Bhd, who will supply the concrete to Megamas Jaya Sdn Bhd and its appointed procurement representative, Pembekal Mewah Enterprise Sdn Bhd, according to a statement released on Friday.

Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said the contract reinforces the group's presence in Sabah's concrete supply industry and highlights Expogaya's operational expertise in supporting major development projects such as 88 Avenue, which includes residential units, serviced residences and retail outlets.

“As the largest ready-mix concrete supplier in the region, we are proud to contribute to the infrastructure growth that is vital to Sabah’s continued economic expansion,” Phang said.

Meta Bright is engaged in various sectors, including hospitality, investment property, property development, energy, leasing and financing, as well as the concrete industry.

Shares of Meta Bright, which have declined by more than 32% since the beginning of the year, were trading at 13.5 sen during Friday's noon break, giving the company a market capitalisation of RM341.7 million.

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!