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NewsHighlight Vivocom eyes turnkey contract
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Highlight Vivocom eyes turnkey contract
by Cals Fri 06 May 2016, 01:26
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[size=28]Vivocom eyes turnkey contract
By Christina Ramani / theedgemarkets.com | May 5, 2016 : 2:13 PM MYTKUALA LUMPUR (May 5): Vivocom Intl Holdings Bhd is eyeing the main contractor role for an estimated RM200 million mixed-property project in Perak's Kinta district.
Vivocom announced to Bursa Malaysia today the builder via Vivocom Enterprise Sdn Bhd (VESB) had signed a heads of agreement (HoA) with developer De Facto Integrated Sdn Bhd.
The HoA names VESB as turnkey contractor for the project at Wilayah Sultan Azlan Shah. The Perak State Government owns the vacant tract.
Vivocom said: "Subject to the terms and conditions of the HoA, De Facto will appoint VESB as the turnkey contractor to design, construct the structures, infrastructures and all associated works on the said development for an estimated contract value of approximately RM160 million."
"In turn, VESB is required to complete the construction of the whole development within 24 months after the launch," Vivocom said.
Subsequent to the HoA, Vivocom and De Facto expect to sign a final agreement within this month. Vivocom said the deadline for the final agreement is this May 15.
At 12:30pm today, Vivocom shares fell 0.5 sen or 1.4% to 34 sen with some 26 million units traded. At 34 sen, Vivocom is valued at RM879.67 million.
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