KUALA LUMPUR (March 21): Pasukhas Group Bhd has bagged construction works worth a combined RM41.3 million from Paramount Property Construction Sdn Bhd for a hotel and serviced apartments in Shah Alam, Selangor.
In a filing with Bursa Malaysia yesterday, Pasukhas said its 70%-owned subsidiary Pasukhas Construction Sdn Bhd has accepted a letter of award from Paramount Property to undertake the subcontract works.
The project includes a five-storey car park, a block of 14-level serviced apartments of 389 units, a block of 14-level hotel of 240 rooms and a taxi stand with roofing.
Pasukhas said the superstructure works for the hotel, which is expected to be completed by Feb 15, 2019, are valued at RM7.65 million, while that of the 14-storey serviced apartments are expected to be completed by end-November 2019 and are worth RM33.65 million.
“We believe that this construction project will contribute positively towards the future earnings of the company for this financial year ending Dec 31, 2018,” its executive director cum chief executive officer Wan Thean Hoe said in a separate statement.
Pasukhas shares closed unchanged at 13 sen yesterday, with a market capitalisation of RM105.5 million.
This article first appeared in The Edge Financial Daily, on March 21, 2018.