Outstanding construction order book bolstered to RM1.22 billion and current GDV of projects stand at RM 1.26 billion
SELANGOR, 14 December 2023 – MGB Berhad (“MGB” or the “Group”), a construction and property development solutions provider and subsidiary of LBS Bina Group Berhad, today announced that its wholly-owned subsidiary MGB Construction & Engineering Sdn Bhd has accepted a letter of award worth RM167.75 million (“Contract”) from RDC Arkitek (KL) Sdn Bhd on behalf of Johan Anggun Sdn Bhd for a development project in Genting Highlands and Daerah Bentong, Pahang Darul Makmur.
The Contract involves the construction of 28 levels of service apartments from floors 9 to 36, one level for facilities at level 8, seven levels of car park from floors 1 to 7, one level of facilities, lobby space, and parking on the ground floor, as well as two levels of basement parking at LG2 and LG1, covering 2.30 acres on a portion of Lot 15360 Genting Highlands, Mukim Bentong, Daerah Bentong, Pahang Darul Makmur.
“MGB’s Executive Vice Chairman, Tan Sri Dato’ Sri Ir (Dr) Lim Hock San, commented, ‘With this contract, our outstanding construction order book stands at RM1.22 billion, with development projects having a Gross Development Value of RM 1.26 billion. This brings a positive conclusion to our year 2023. Based on our positive results thus far, we anticipate a successful beginning in 2024, with expectations of continued advancement in both our construction and property development divisions.
In addition, we are continually acquiring new expertise and refining methodologies to enhance our quality and expand the utilization of our Industrialized Building System (IBS) precast concrete products. IBS remains an important component of our business and our core competence, that we will leverage on to secure new projects. Notwithstanding the ever changing needs and demands of the construction and property development industry, we are optimistic in meeting the needs of our customers and at the same time, remain at the forefront of our industry.
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