Pesona Metro bags RM319m job to build TNB office tower in KL

KUALA LUMPUR (May 18): Pesona Metro Holdings Bhd has bagged a mixed development project worth RM319 million for the construction and M&E (mechanical and engineering) works for a 44-storey office tower for Tenaga Nasional Bhd in Kuala Lumpur.

In a filing with Bursa Malaysia yesterday, Pesona Metro said its unit Pesona Metro Sdn Bhd has accepted the letter of award from Bayu Mantap Sdn Bhd, which is the turnkey contractor as well as turnkey developer of the project.

The 27-month project, starting yesterday, is expected to contribute positively to the group's earnings and enhance its net assets during the duration of the project.

"The project will be funded via a combination of internally generated funds and short-term project financing facilities from financial institutions, the quantum of which has yet to be determined at this juncture," said Pesona Metro, adding that the effect on the gearing of the group cannot be ascertained at this juncture.

Shares of Pesona Metro closed half a sen or 1.54% higher at 33 sen yesterday, valuing it at RM225.87 million.

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