LFE Corp bags two contracts worth RM16.7m for hotel project in Penang

• LFE said its wholly owned subsidiary LFE Engineering Sdn Bhd had accepted two letters of awards from MLG Design & Construction Sdn Bhd to be appointed as a subcontractor for the hotel project in George Town.

KUALA LUMPUR (May 15): Electrical and mechanical engineering group LFE Corp Bhd (KL:LFECORP) has bagged two contracts related to the construction of a 22-storey hotel in Penang worth a total of RM16.7 million.

In a filing with Bursa Malaysia on Wednesday, LFE said its wholly owned subsidiary LFE Engineering Sdn Bhd had accepted two letters of awards from MLG Design & Construction Sdn Bhd to be appointed as a subcontractor for the hotel project in George Town.

The first contract, worth RM7.6 million, entails the supply, installation and maintenance of the air-conditioning and mechanical ventilation system and building management system for the building.

The second contract, worth RM9.1 million, involves the supply, installation and maintenance of the electrical installation for the project.

The contract commenced on Oct 2, 2023, and is expected for completion on Nov 1, 2025.

Shares in LFE closed unchanged at 17.5 sen on Wednesday, with a market capitalisation of RM188.62 million.

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