KUALA LUMPUR (Dec 15): Property developer Tiger Synergy Bhd has won a RM1 billion contract to build affordable homes in Seremban.

In a filing with Bursa Malaysia, the group said the contract, awarded by Elite Community Sdn Bhd, involves the development of 5,000 apartment units on a 123-acre (49.7ha) leasehold land.

The building will comprise 15 blocks of 21-storey apartments with three different built-up areas.

Tiger Synergy said the planning approval for the project will be submitted upon final design review and approvals from all the relevant authorities.

Tiger Synergy’s share price were last traded at 4.5 sen, giving a market capitalisation of RM74.35 million.

This article first appeared in The Edge Financial Daily, on Dec 15, 2017.

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