ML Global bags RM38m MBI Selangor contract

KUALA LUMPUR (Aug 8): ML Global has bagged a demolition and reconstruction works contract for Menteri Besar Selangor Incorporated (MBI Selangor) worth RM38 million.

In a filing with Bursa Malaysia today, the company said that its wholly-owned subsidiary, MITC Engineering Sdn Bhd, has accepted the letter of award from Kemudi Ehsan Sdn Bhd for demolition works of the existing structures and re-construction works for a proposed development project for MBI Selangor, comprising 203 units of double-storey terrace houses in Ijok.

It said the contract will have no effect on the issued share capital of the company, but it is expected to contribute positively to the earnings and net assets per share of the company and the group over the duration of the contract, which is scheduled to be from August 2017 to February 2019.

ML Global, MITC Engineering and Kemudi Ehsan are units under LBS Bina Group Bhd. — theedgemarkets.com

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