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Seacera to build RM242m govt staff housing in Terengganu

KUALA LUMPUR (Jan 23): Seacera Group Bhd has bagged a RM202.8 million contract from Fire Global Development Sdn Bhd to build a housing project with an expected gross development value (GDV) of RM242 million in Kampung Air Sejuk, Setiu, Terengganu.

The 110.87-acre (44.87ha) government land is registered under Lembaga Tabung Amanah Warisan Negeri Terengganu.

In a filing with Bursa Malaysia yesterday, Seacera said its wholly-owned subsidiary Seacera Builders Sdn Bhd had accepted a letter of award from Fire Global for the proposed project.

The contract’s tenure is 60 months from the building plan approval of the project. “The project is planned for 989 units of landed houses and targeted at government staff,” Seacera said.

It cited the contract is expected to contribute positively towards the group’s earnings and net assets from the financial year ending Dec 31, 2018.

This article first appeared in The Edge Financial Daily, on Jan 24, 2018.

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