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NewsProtasco gets RM88m worth of 1Malaysia housing projects
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Protasco gets RM88m worth of 1Malaysia housing projects
by Cals Tue 21 Jan 2014, 22:40
| Protasco gets RM88m worth of 1Malaysia housing projects |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Tuesday, 21 January 2014 18:29 |
KUALA LUMPUR (Jan 21): Protasco Bhd announced it has secured RM88.1 million worth of contracts to build 1Malaysia affordable houses in Perak and Negeri Sembilan.
In a statement to Bursa Malaysia, Protasco, a construction and property development firm, said its wholly-owned unit HCM Engineering Sdn Bhd, had today received the letters of appointment from Koperasi Pembangunan Hartanah Putrajaya Bhd.
The projects under the 1 Malaysia affordable housing scheme or "Projek Perumahan Mampu Milik 1Malaysia" involve the design, construction and completion of 907 single-storey terrace units in Manjung, Perak and 237 similar units in Jelebu, Negeri Sembilan.
"The project is expected to contribute positively to the earnings of the Protasco group for the financial year ending 31 December 2014 and will improve the net assets of the Protasco group for the financial year ending 31 December 2014," Protasco said.
Protasco expects the projects to be completed within 18 months from the date of site possession.
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