Pesona Metro bags RM216m contract to build affordable apartments

KUALA LUMPUR (March 24): Pesona Metro Holdings Bhd has secured a contract worth RM216.38 million to build 1,260 affordable apartment units in Bukit Jalil.

In a filing yesterday, Pesona Metro said the contract was awarded by GDP Architects Sdn Bhd, which is 68%-owned by Chin May Yong, who is the spouse of Pesona Metro's major shareholder and non-executive director Wie Hock Kiong.

Pesona Metro said the project comprises two 42-storey apartment buildings and an eight-floor carpark lot. The duration of the project is 32 months commencing July 1.

"The project will not have any impact on the issued share capital of the company and is expected to contribute positively to the earnings. It is also expected to enhance the net assets of companies and its subsidiaries during the duration of the project," the group added.

Pesona Metro's share price closed unchanged at 38 sen yesterday, with a market capitalisation of RM250.16 million. — theedgemarkets.com

For more stories, download EdgeProp.my pullout here for free.