ML Global rises 6.49% on securing housing development projects

KUALA LUMPUR (Nov 8): ML Global Bhd rose 6.49% this morning after it secured two housing development projects totalling RM270.5 million in Ijok, Selangor.

At 9.08am, ML Global rose 10 sen to RM1.64 with 123,900 shares done.

ML Global said its wholly-owned MITC Engineering accepted the letters of award today from Kemudi Ehsan Sdn Bhd, a subsidiary of its substantial shareholder LBS Bina Group Bhd, 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, 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 and a guard house, and three TNB substations. Completion is scheduled for February 2019. — theedgemarkets.com

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