KUALA LUMPUR (March 15): Pesona Metro Holdings Bhd has bagged a RM238.45 million contract from MCT Bhd’s unit for the construction of three blocks of apartment in Cyberjaya, together with mechanical and electrical works.

Pesona’s unit Pesona Metro Sdn Bhd accepted the Letter of Award today from MCT’s unit Lakefront Residence Sdn Bhd, who is the developer of the project, Pesona Metro said in a stock exchange filing yesterday.

The project involves the construction of two blocks of buildings with 862 units, and a third block containing 449 units. It is expected to be completed in 27 months.

The group expects the project to contribute positively to its earnings and enhance its net assets during the project's duration.

"The project is expected to be funded via a combination of internal generated funds and short-term project financing facilities from [the] bank. Accordingly, the effect on the gearing of the group cannot be determined at this juncture," it added.

Pesona shares closed half a sen or 2.22% higher at 23 sen today, for a market value of RM159.84 million. — theedgemarkets.com

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