West River bags RM16.7 mil sub-contract for apartment project in KL

• West River said the job was awarded by Goodwood Builders Sdn Bhd, the main contractor for the project comprising two blocks of 44-storey suite apartments in Taman Setiawangsa, Kuala Lumpur.

KUALA LUMPUR (Aug 26): Engineering firm West River Bhd (KL:WESTRVR) has secured a RM16.66 million subcontract to undertake electrical low-voltage and lighting services for an apartment project.

In a bourse filing, West River said the job was awarded by Goodwood Builders Sdn Bhd, the main contractor for the project comprising two blocks of 44-storey suite apartments in Taman Setiawangsa, Kuala Lumpur.

The construction period for main contract works is 20 months, which includes all subcontract works.

West River said the subcontract will be funded through internally generated funds and bank borrowings.

West River was listed on the ACE Market of Bursa Malaysia in May. Its shares have risen 68% from its initial public offering price of 39 sen to 65.5 sen on Tuesday.

This gives the company a market value of RM97 million.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.