An artist’s impression of the three-storey semi-detached factories to be constructed by MGB.
PETALING JAYA: Construction and property development solutions provider MGB Bhd (MGB), a subsidiary of LBS Bina Group (LBS) has accepted a letter of award worth RM189.35mil for the construction of industrial units and infrastructures at the LBS Alam Perdana township.
The contract was awarded by Kemudi Ehsan Sdn Bhd, also a subsidiary of LBS, and comprises 112 units of low-cost single-storey industrial terrace, 96 units of two-storey terraced factories, 116 units of three-storey semi-detached factories, and infrastructure comprising of 13 units of electrical substations, a main switch station and a retention pond.
The construction is expected to be completed in 18 months. The contract replenishes MGB’s existing outstanding construction order book to RM 1.38bil, with unbilled property development sales of RM750mil as at 30 April 2024.
MBS group executive chairman Tan Sri Lim Hock San said the group aims to broaden its experience constructing for various sub sectors by participating in tenders involving mixed developments and securing projects that will utilise the group’s key strengths, such as Industrialised Building System (IBS) precast concrete panels.
“While our prospects are positive, we are cautiously optimistic that we will be able to deliver desired results for stakeholders for the rest of 2024,” Lim added.
Stay ahead of the crowd and enjoy fresh insights on real estate, property development, and lifestyle trends when you subscribe to our newsletter and follow us on social media.
