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Vizione clinches three construction contracts worth RM801m

KUALA LUMPUR (March 11): Vizione Holdings Bhd has secured three construction contracts with a cumulative value of RM801 million which it said "considerably enhances" its outstanding order book.

The construction engineering group said the contracts were awarded to its wholly-owned subsidiary Vizione Builder Sdn Bhd.

They included a RM405 million design and build contract, which includes detailed structural infrastructure, mechanical and electrical as well as construction works in Puchong, from Esplanade Parkcity Sdn Bhd.

The duration to complete the project is 40 months, Vizione said in a filing with Bursa Malaysia.

It said the second contract worth RM350 million was awarded by Greenwood Development Sdn Bhd for foundation and substructure work and main building work in Pekan Klebang, Melaka, to be completed in 31 months.

The third contract worth RM46 million is for the construction of 1,107 single-storey terrace houses in Batu Gajah, Perak from LCL M&E Engineering Sdn Bhd, with a duration of 42 months.

Vizione said the three contracts are expected to provide a steady stream of revenue for the group over the next three financial years.

"This is a very positive development for the group as it considerably enhances our outstanding order book, which ultimately creates greater value for our shareholders.

"The three projects with a cumulative value of RM801 million would contribute meaningfully to Vizione's earnings in the coming years, starting from the current financial year," said Vizione.

"Additionally, we are also acquiring new technical expertise and partnering with companies that have deep experience and successful track record in infrastructure projects to prepare ourselves for these upcoming projects," added the group.

Vizione managing director Datuk Ng Aun Hooi sad this, together with the group's own proven capabilities and track record of more than 25 years, will help ensure the group secure more jobs soon.

Looking ahead, Ng said Vizione is keeping its optimism for the coming financial year.

"We expect the construction sector to rebound and play a key role in Malaysia's economic recovery with a number of large-scale projects expected to be implemented," he added.

Shares of Vizione closed 1.5 sen or 5% higher at 31.5 sen yesterday, translating into a market capitalisation of RM248.38 million. Some 35.54 million shares changed hands.

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