Solarvest gets RM40.40m contract from Scientex to install rooftop solar PV systems
The project is slated to commence in May 2024.
The project is slated to commence in May 2024.
Scientex project general manager (property division) Tang Song Teik said that so far, the company has handed over 35,062 affordable housing units, with about 70% of them sold at prices below RM300,000.
Crescendo struck three land deals in November last year.
The Johor-based property developer said its wholly owned subsidiary Panoramic Industrial Development Sdn Bhd (PID) had entered into a conditional sale and purchase agreement with Microsoft Payments (Malaysia) Sdn Bhd for the proposed deal.
The research house said that the counter broke past the RM2.
Net profit more than doubled to RM57.
Looking ahead, Scientex remains optimistic about the resilient demand for affordable homes in FY2024, as the group aims to achieve the completion of 50,000 affordable homes by 2028 across seven states.
It said both parties have mutually agreed to terminate the contract, resulting in an unconditional release and indefinite discharge of all claims, liens, and obligations related to the project works.
“Credit reporting agencies will likely need to overhaul their business models to comply fully with the [Credit Reporting Agencies] Act 2010, potentially discontinuing their credit score services altogether.
The research house is positive on the deal, as it allows Scientex to expand its footprint and build upon its success in affordable housing in the northern part of Selangor.