news

Minetech to build bridge connecting You City and Grand Saga Highway for RM16.1m

KUALA LUMPUR (Sept 21): Minetech Resources Bhd has been tasked to build a connecting bridge between PJ Development Group's You City in Cheras and the Grand Saga Expressway for a contract sum of RM16.1 million.

According to the mining and civil engineering outfit's bourse filing today, its unit Minetech Construction Sdn Bhd has received a Letter of Acceptance from PJD Regency Sdn Bhd for the above project.

PJD Regency Sdn Bhd is now a subsidiary of OSK Property Holdings Bhd, after the latter's parent, OSK Holdings Bhd, merged the businesses and operations of PJ Development Holdings Bhd and OSK Property into the OSK Group.

Aside from constructing the connecting bridge, Minetech said the unit has also been tasked to upgrade Jalan Kinabalu, Jalan Kijang, and Jalan Taman Suntex in Cheras.

"The contract was for a contract period of 20 months, commencing from Sept 15 and to be completed on May 14, 2018," it added.

You City is a a mixed commercial integrated development, strategically located within the matured neighbourhood in Cheras.

Minetech said the contract is expected to contribute positively to its future earnings.

Shares in Minetech down 0.5 sen or 6.25% to settle at 7.5 sen today, for a market value of RM52.13 million. — theedgemarkets.com

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

Like our content? Check out Narratives – where we curate stories based on topics to keep you well and broadly informed about Malaysian real estate.

Looking for property? Check out Location Scan, where we summarize all available options and facts you need in a few clicks. We have updated the tool to include MRT3 stations too.

Curious how much you can borrow? Use LoanCheck to get your maximum loan eligibility from various banks, or LoanReport to get a FREE CTOS/CCRIS credit report.
SHARE
RELATED POSTS
  1. DONE DEAL: Bungalow house at Taman Taynton View, Cheras, Kuala Lumpur
  2. Guocoland turns around in 4Q from last year, but q-o-q earnings plunge
  3. DONE DEAL: Ground floor of a shoplot at Dataran C180, Cheras, Selangor