Ecobuilt bags RM93m project to develop a business complex in Penang

• The group said its wholly owned subsidiary Rexallent Construction Sdn Bhd has accepted the letter of award dated Jan 5 issued by ADM Design & Management Sdn Bhd. 

KUALA LUMPUR (Jan 19): Ecobuilt Holdings Bhd's unit has bagged a construction works project worth RM92.46 million to develop a business complex in Penang, according to its bourse filing on Thursday.

The group said its wholly owned subsidiary Rexallent Construction Sdn Bhd has accepted the letter of award dated Jan 5 issued by ADM Design & Management Sdn Bhd. 

Under the project, Rexallent is appointed as the contractor for the development of a three-storey logistics business complex along Lebuhraya Tun Dr Lim Chong Eu.

Ecobuilt said the building for Aman Duta Sdn Bhd is expected to be completed by Sept 4. 

The group added that the project will contribute positively to its earnings and net assets for the financial year ending May 31, 2023 (FY2023).

On Thursday, Ecobuilt’s share price closed unchanged at 9.5 sen, valuing the group at RM34.52 million.