SELANGOR: Construction and property development solutions provider MGB Bhd’s subsidiary MGB Construction and Engineering Sdn Bhd has been awarded a contract of RM172.3mil from Kita Sejati Sdn Bhd.
The development project to be constructed is part of the KITA @ Cybersouth township development by LBS Bina Group Bhd. The contract entails the provision of main building works for two 24-storey apartments and one eight-storey building which comprises common area facilities and car parks.
Located in Cybersouth Sepang, construction works are expected to begin next month on Sept 1 for a duration of 15 months.
“With this contract win, our construction order book strengthens to a healthy RM2.21bil which provides earnings visibility in the coming years. Over the past month, MGB has secured contracts close to RM400mil. We are heartened that MGB is able to carry on with steady construction projects amidst these uncertain times for the construction industry,” MGB executive vice-chairman Tan Sri Lim Hock San said.
“The use of our internal IBS precast system has definitely helped with alleviating the labour shortage problem which is affecting the whole industry. From the project's front, MGB is looking forward to launching the five remaining Rumah Selangorku Idaman MBI projects which will take place throughout this year and 2023,” he added.