MGB gets LoI for RM175.2m works

KUALA LUMPUR (June 28): MGB Bhd has received a letter of intent (LoI) from Kemudi Ehsan Sdn Bhd, a subsidiary of LBS Bina Group Bhd, to undertake piling, pile cap and building works including internal infrastructure works valued at RM175.2 million, for the proposed Phase 3A and 3B development projects in Bandar Alam Perdana, Ijok, Selangor.

LBS Bina is a major shareholder of MGB.

In a filing with Bursa Malaysia yesterday, MGB said its wholly-owned subsidiary MITC Engineering Sdn Bhd has received the LoI from Kemudi Ehsan for the proposed job, which is subject to the finalisation of contract documents, terms and conditions and final contract pricing.

The Phase 3A job, worth RM70.6 million, entails the construction of 362 units of two-storey terrace houses, a surau, a multipurpose hall, a two-storey library and kindergarten, a Tenaga Nasional Bhd substation, a main switching station, a refuse chamber and a guardhouse.

This article first appeared in The Edge Financial Daily, on June 28, 2018.

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