Vivocom bags RM143m job to build affordable homes

KUALA LUMPUR (Jan 4): Vivocom Intl Holdings Bhd has bagged an RM143 million contract from Almaventures Development Sdn Bhd to build a 44-storey block housing 902 units of affordable housing, with seven floors of car park, on Jalan Gombak, Setapak here.

In a filing with Bursa Malaysia today, Vivocom said its subsidiary Vivocom Enterprise Sdn Bhd (VESB) has accepted the letter of award from Almaventures for the project.

The project will be completed within 36 months from the date of commencement.

"The project is expected to contribute positively to the earnings and net assets of Vivocom for the duration of the project," it added.

Vivocom’s share price closed down 0.5 sen or 3.57% at 13.5 sen today, bringing it a market capitalisation of RM458.15 million. — theedgemarkets.com

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