Gabungan AQRS gets LoI for RM189m construction job

KUALA LUMPUR (Nov 22): Gabungan AQRS Bhd has received a letter of intent (LoI) from KotaSAS Sdn Bhd to build 1,004 landed homes in Kota Sultan Ahmad Shah, Kuantan, Pahang, valued at RM189.22 million.

With the addition of the project, Gabungan AQRS’ outstanding order book amounts to RM2.77 billion.

In a filing with Bursa Malaysia yesterday, Gabungan AQRS said its wholly-owned subsidiary Gabungan Strategik Sdn Bhd had received the LoI from KotaSAS to appoint Gabungan Strategik as a turnkey contractor to undertake the construction works.

The project will be divided into four phases, with Phase 1 to commence in 2018 and complete after two years. Phase 2, 3 and 4 will commence in 2019, 2020 and 2021 respectively and will also complete after two years after commencement.

This article first appeared in The Edge Financial Daily, on Nov 22, 2017.

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