KUALA LUMPUR (Dec 17): Crest Builder Holdings Bhd has bagged a RM316 million contract from Inter Sky Development Sdn Bhd, a member of the JL99 Group, to build the 99 Residence development in Taman Wahyu here.
The contract period set out in the letter of award is 35 months from July 1, 2020 to May 31, 2023.
In a bourse filing yesterday, Crest Builder said the contract is expected to contribute positively to the group's earnings and net tangible assets for the financial year ending Dec 31, 2020 (FY20) and onwards.
In a separate statement, Crest Builder said the project comprises four blocks of 55-storey service apartments totalling 1,421 units, as well as podium car parks and facility floors.
Crest Builder group managing director Eric Yong said this contract win brings the group's total contracts secured to RM570 million, exceeding its replenishment target of RM500 million for 2019.
Crest Builder’s outstanding order book stands at RM1.3 billion, which will provide earnings visibility for the next four years, it added.
Crest Builder shares closed three sen or 3.23% higher at 96 sen yesterday, for a market value of RM156.51 million.
TOP PICKS BY EDGEPROP
Menara AIA Sentral (formerly Menara Standard Chartered)
KL City, Kuala Lumpur
Menara HLX (formerly Menara HLA)
KL City Centre, Kuala Lumpur
DO MORE WITH EDGEPROP.MY
-
Read newsRead the latest news and in-depth coverage of Malaysian property - what's hot, what's not and more
-
Search listingsFind residential or commercial properties for sale, rental and auction by licensed agents
-
Search new projectsCheck out over 200 new project launches and offers by developers in Klang Valley and other locations
-
Get property market insightsGet your personalized property report (including estimated home value) and find past transacted data
-
Get home design ideasZING.my can help you get started on your renovation project. Find hundreds of design portfolios by professionals in Malaysia
-
Partner with usAre you a real estate agent or home professional? List your properties or portfolio with us for free and get quality leads.