Earnings to be underpinned by its Vietnam engineering, procurement and construction (EPC) contract worth RM1.9 billion, and other local jobs such as Sungai Besi-Ulu Klang Elevated Expressway (RM508 million).
News of the stake disposal came in as a surprise. Tan Sri Desmond Lim already has a retail REIT in Pavilion REIT and property development business in Malton.
This parcel, with an aggregate area of about 20.7ha is located in Mukim of Kota Tinggi, Daerah Kota Tinggi, Johor...
The group announced overnight a rationalisation exercise which will see its construction business (held through 75%-owned MITC Engineering Sdn Bhd) injected into 51.2%-owned listed subsidiary, ML Global Bhd. The consideration sum of RM225 million will be settled via the issuance of 200.8 million ML Global shares and 135 million irredeemable convertible preference shares, both at 67 sen each.