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Hot Stock Vivocom active, up 2.08% on getting construction jobs
by Cals Sat 25 Jun 2016, 20:32
- Hot Stock
[size=28]Vivocom active, up 2.08% on getting construction jobs
By Surin Murugiah / theedgemarkets.com | June 24, 2016 : 10:10 AM MYTKUALA LUMPUR (June 24): Vivocom International Holdings Bhd's shares rose 2.08% in active trade this morning after its subsidiaries have received letters of award for construction works worth a cumulative amount of RM37.8 million in Sungai Buloh, Selangor, and Lorong Stonor, Kuala Lumpur.
At 9.49am, Vivocom added half a sen to 24.5 sen with 18.97 million shares done.
Vivocom (formerly known as Instacom Group Bhd) said Kiara 5 Development Sdn Bhd has 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, for RM25 million. The project will commence upon site possession, with completion expected within 18 months.
Meanwhile, Vivocom's 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 building on Lot 256, Section 63, Lorong Stonor for 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.
Both projects are expected to contribute positively to the earnings and net assets of Vivocom for the duration of the projects, it added.
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