SELANGOR, 10 March 2025 – MGB Berhad (“MGB” or the “Group”), a construction and property development solutions provider and subsidiary of LBS Bina Group Berhad, announced that its indirect wholly-owned subsidiary, MGB International For Industry (“MGBI”), has accepted two Purchase Orders (“Orders”) from Sany Alameriah (“SA”) for approximately SAR75.06 million (equivalent to RM88.57 million).
The Orders are in relation to a contract signed between SA and Shapoorji Pallonji Mideast LLC (“SPM”) for the supply and installation of precast elements for Al Arous – Phase 1 single family residential units – Zone B & C and public amenities within the prestigious ROSHN ALAROUS development located north of Jeddah, the Kingdom of Saudi Arabia (“KSA”). The scope of work also includes design & build, engineering, fabrication and rectification, amongst others. The supply and installation of the precast concrete products, estimated to comprise 42,000 cubic metres of precast concrete elements, equivalent to 326 units of properties, is anticipated to be completed within 14 months from the project’s commencement date, which is the date of issuance of bank guarantee to SPM.
The ROSHN ALAROUS development nicknamed “The Bride of the Red Sea”, will offer more than 2,200 single family units, as well as pedestrian-friendly streets and neighbourhoods, green spaces alongside retail, sports and other recreational amenities. ROSHN is a national real estate developer in the KSA, backed by the Public Investment Fund, which is the sovereign fund of the KSA with over USD700 billion in assets under management.
SPM is a subsidiary of Shapoorji Pallonji International, the international arm of Shapoorji Pallonji Engineering & Construction, which operates under Shapoorji Pallonji and Company Pvt. Ltd. that specialises in providing comprehensive end-to-end solutions in engineering and construction projects outside India.
MGB’s subsidiary in Jeddah Saudi Arabia, MGB International for Industry secures new orders for its precast concrete elements and products
Commenting on the Orders, MGB’s Group Executive Chairman, Tan Sri Dato’ Sri Ir. (Dr.) Lim Hock San remarked, “These latest Orders reinforce MGB’s position in KSA. By adding on to our existing orders, MGBI can consolidate its presence and look forward to grow its business in the region. With each order received, we have the opportunity to refine and adapt our products to better suit the requirements of our clients within the locality. Moving forward, MGBI will continue to promote its expertise as a total construction solutions provider. We would like to express our sincere gratitude to Sany Alameriah for its continued support and partnership, thus far. Its trust and collaboration have been instrumental in our success, and we look forward to continue this strong relationship in future.”
In addition to the Orders above, MGBI has recently received two separate orders to manufacture hollow core slabs for 2 other projects within the surrounding areas of Jeddah. The first order, totalling 6,817 square metres, is for the Mayan project, for SAR516,212.00 (equivalent to RM609,130.16). The second order totalling 820 square metres is for the Sapac project, for SAR118,442.17 (equivalent to RM139,761.76). Both of these orders along with the latest project secured, are expected to contribute positively to MGB’s earnings, strengthening its upcoming financial performance. Looking ahead, MGB anticipates securing further orders for its precast concrete products for year 2025, reflecting the strong market demand and its growing presence in KSA.
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