Vizione secures RM65.6 mil job for Sentul project, first major win since terminating RM1.24 bil contracts

KUALA LUMPUR (May 20): Construction and property company Vizione Holdings Bhd (KL:VIZIONE) on Tuesday said that its wholly-owned subsidiary, Bina Permai Sdn Bhd, has secured a RM65.62 million contract for main building works on a residential development project in Sentul, Kuala Lumpur.

It is the company’s first major contract win since ending two large projects worth a combined RM1.24 billion last year.

In a filing with Bursa Malaysia, the company said the contract was awarded by Bina Asia Sdn Bhd, and Bina Permai will act as the main contractor for the project.

The development involves a 30-storey residential apartment block comprising 322 units, including Residensi Wilayah (RUMAWIP) and Perumahan Penjawat Awam Malaysia (PPAM) units. The project also includes recreational facilities, multi-level parking, security facilities, and electrical infrastructure.

The project is expected to be completed within 24 months from the commencement date, subject to confirmation by the project architect.

Last year, Vizione cancelled two major construction projects worth a total of RM1.24 billion within two months, with both terminations agreed to by all parties.

One was a RM490 million apartment project in Sabah that never began, while the other was a RM750 million mixed development in Gombak that was cancelled due to delays, market uncertainty, and the client’s funding problems.

Vizione reported its largest quarterly loss for the sixth financial quarter ended November 30, 2025, dragged down by substantial impairments and write-offs on assets and project-related estimates.

Net loss for the quarter came in at RM248.45 million, on revenue of RM91.26 million. 

Vizione’s share price was down 5.56% to 8.5 sen at Tuesday’s close, valuing the company at RM49.73 million.

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