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NewsVivocom bags two projects worth RM37.8m
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Vivocom bags two projects worth RM37.8m
by Cals Fri 24 Jun 2016, 04:13
Vivocom bags two projects worth RM37.8m
By Sangeetha Amarthalingam / theedgemarkets.com | June 23, 2016 : 7:55 PM MYTKUALA LUMPUR (June 23): Vivocom International Holdings Bhd's subsidiaries have received letters of award with a cumulative amount of RM37.8 million for works in Sungai Buloh, Selangor, and Lorong Stonor, here.
In a filing with Bursa Malaysia today, Vivocom (formerly known as Instacom Group Bhd) said Kiara 5 Development Sdn Bhd appointed Vivocom Enterprise Sdn Bhd as its turnkey contractor for the construction of a 19-unit low-density apartment block in Kampung Ara, Sungai Buloh.
The provisional contract amount is RM25 million and the project would commence upon site possession with completion expected within 18 months.
Meanwhile, Vivocom said its unit Neata Aluminium (Malaysia) Sdn Bhd received and accepted a letter of award from Lim Hoo Seng Construction Sdn Bhd for the design, fabrication, supply, delivery and installation of aluminium and glazing works for a 41-storey serviced apartment on Lot 256, Section 63, Lorong Stonor.
"The contract amount is RM12.8 million. The project shall be completed within 35 months from the date of commencement of the main contract works on March 28, 2016," it said.
Both the projects are expected to contribute positively to the earnings and net assets of Vivocom for the duration of the projects, it added.
Vivocom closed unchanged at 24 sen for a market capitalisation of RM620.9 million.
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