Crest Builder awarded contract to build serviced apartment

KUALA LUMPUR: Crest Builder Sdn Bhd, a wholly owned subsidiary of Crest Builder Holdings Bhd, has been awarded a contract by Messrs Exceljade Sdn Bhd for the construction of super-structure works of two towers of 40 storey serviced apartments for a contract sum of RM175.5 million.

The construction will be on part of Lot 28 and Lot 29 in Jalan Tun Razak/Jalan Raja Muda Abdul Aziz in Kuala Lumpur, said Crest Builder Holdings in a filing to Bursa Malaysia Dec 28.

The contract period is 24 months from the date of site possession, which has been set out on Jan 2, 2010 and expected to be completed in Jan 1, 2012.

Crest Builder Holdings said the contract is expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2010 onwards.