Vivocom bags RM100 mil turnkey contract for two apartments in Perak

KUALA LUMPUR (Aug 19): Vivocom Intl Holdings Bhd (formerly Instacom Group Bhd) has bagged a RM100 million turnkey contract to build two 18-storey apartment blocks in Chepor Batu 10, Perak.

In a filing with Bursa Malaysia today, Vivocom said its subsidiary Vivocom Enterprise Sdn Bhd has received and accepted the letter of award from Green Ventures Development Sdn Bhd for the appointment as a turnkey contractor for the construction of the project.

"The project is expected to contribute positively to the earnings and net assets of Vivocom for the duration of the project," it added.

The project will commence upon site possession, with completion within 24 months.

Vivocom shares closed down one sen or 3.23% to 30 sen today, for a market capitalisation of RM789.13 million. — theedgemarkets.com

Try out one of our super tools, the rental yield calculator, here.