LFE Corp secures contracts worth RM71m for Oasis Ara, Cyberjaya development

• The scope includes the design and build of underpinning and structural strengthening works, and the demolition and reconstruction of a ramp and associated works.

KUALA LUMPUR (July 1): LFE Corp Bhd (KL:LFECORP) has secured four contracts worth a combined RM70.85 million, covering construction and material supply works across two development projects in Selangor.

The first contract, worth RM30.49 million, was awarded to its wholly owned subsidiary LFE Engineering Sdn Bhd by SD Ara Damansara Development for alteration, underpinning, and structural strengthening works at the proposed Oasis Ara development in Ara Damansara.

The contract represents a recurrent related party transaction, as LFE Corp’s executive chairman and substantial shareholder, Chuah Chong Ewe, is also a director and shareholder of SD Ara Damansara Development.

The works commenced on Monday and are scheduled for completion by March 29, 2027.

Another subsidiary, LFE Innovative Sdn Bhd, accepted a RM32.46 million contract from SD Ara Damansara Development for the supply of materials for the same Oasis Ara project.

The scope includes the design and build of underpinning and structural strengthening works, and the demolition and reconstruction of a ramp and associated works.

Two more contracts awarded for Cyberjaya development

In addition to the Oasis Ara project, LFE Corp also secured two more contracts from Puncak Concept Sdn Bhd for a development at Persiaran Sepang, Cyber 10, Cyberjaya.

LFE Engineering was awarded an RM3.07 million contract for the execution and completion of earthworks and retaining walls, including precast concrete piles. The contract period is nine months from Monday to March 29, 2026.

Meanwhile, LFE Innovative accepted a RM4.82 million contract from the same developer for the supply of materials for the same scope of work.

Both contracts are also classified as recurrent related party transactions, as Chuah is also a director and shareholder of Puncak Concept.

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