Menang subsidiary gets RM101m job to build UiTM centre (1694)

KUALA LUMPUR: Menang Corporation (M) Bhd's
51% owned subsidiary has secured a RM101mil contract to build a
training centre for Universiti Teknologi MARA (UiTM) in Nilai, Negeri
Sembilan.
It said on Thursday its subsidiary Protokol Elegan Sdn Bhd had signed a concession with the government to build the training centre on a private finance initiative (PFI).
Menang
said the centre was designed specifically for UiTM staff and to
accommodate 650 trainees. The total construction cost was RM101mil.
Under
the concept of "build-lease-maintain-transfer", Protokol Elegan would
build the centre over three year. On completion it would lease it to
the government or UiTM for a concession period of 23 years.
Protokol
Elegan would receive availability charges of about RM1.304mil monthly
in arrears for the project from UiTM over the lease period of 20 years.
It would also be paid RM361,131 monthly in arrears to provide the maintenance services from UiTM.