- MGB said that with the contract in hand, the group’s current outstanding order book is about RM2.21 billion
The latest contract, worth RM172.34 million, is for the development of two 24-storey blocks of affordable service apartments, said MGB in a Bursa Malaysia filing.
It was awarded to its wholly owned unit MGB Construction & Engineering Sdn Bhd by Kita Sejati Sdn Bhd, a subsidiary of LBS Bina, and is scheduled to be completed by Nov 30, 2023.
MGB said that with the contract in hand, the group’s current outstanding order book is about RM2.21 billion.
In September 2021, MGB Construction & Engineering was awarded a RM112.5 million contract by another LBS Bina unit to build 605 units of single storey and 41 units of double storey terrace homes in Dengkil.
MGB’s share price was last traded at 54 sen, giving the group a market capitalisation of RM316.64 million.