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Nexgram's subsidiary establishes JV for PR1MA homes

KUALA LUMPUR (Oct 13): Blue Hill Development Sdn Bhd, an indirect 70%-owned subsidiary of Nexgram Holdings Bhd, has established a joint venture with Suara Hati Sdn Bhd for the development of PR1MA homes in Gombak.

In a bourse filing today, the company announced that it had accepted a letter of intent from Suara Hati for the proposed construction of 1,138 units of homes comprising double-storey houses, apartment units and 20 retail units.

The development will sit on 49.43 acres of leasehold Malay land.

Meanwhile, in a separate statement filed today, Blue Hill Development said it has also accepted a letter of intent to be the main subcontractor for the proposed construction of 462 apartment units in Bukit Katil, Melaka.

The project coordination and project management roles will be taken up by Good View Construction Sdn Bhd. The proposed contract work falls under the 1Malaysia Civil Servants Housing (PPA1M) scheme.

The company had earlier won a RM7.4 million contract from Good View Construction to build an open shed warehouse and a factory unit in Port Klang for Mah Sing Plastic Industries Sdn Bhd.

At 2.52pm, Nexgram rose 0.5 sen or 9.09% to 6 sen for a market capitalisation of RM103.52 million. — theedgemarkets.com

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