Outstanding construction order book stands at RM2.21 billion
SELANGOR, 11 August 2022 – MGB Berhad (“MGB” or the “Group”), a construction and property development solutions provider, today announced that its wholly-owned subsidiary MGB Construction & Engineering Sdn. Bhd. has been awarded with a contract worth RM172.3 million from Kita Sejati Sdn. Bhd. (“Contract”).
The Contract entails the provision of main building works for two 24-storey apartments, and one 8-storey building which comprises common area facilities and car parks. Construction works for this development project, which is located in Cybersouth, Sepang, are expected to commence on 1 September 2022 for a duration of 15 months. The development project is part of the KITA @ Cybersouth township development by LBS Bina Group Berhad.
The Contract follows on from MGB’s recent announcement, dated 25 July 2022, that it has secured a RM225.0 million contract to construct among others, two 29-storey commercial service apartments at Taman Lestari Perdana, Bandar Putra Permai in the Petaling district.
MGB Executive Vice Chairman, Tan Sri Lim Hock San commented, “With this contract win, our construction order book strengthens to a healthy RM2.21 billion which provides earnings visibility in the coming years. Over the past month, MGB has secured contracts close to RM400 million. We are heartened that MGB is able to carry on with steady construction projects amidst these uncertain times for the construction industry.”
“Looking ahead, our primary focus is to ensure we deliver our construction projects on schedule without compromising on quality. The use of our internal IBS precast system has definitely helped with alleviating the labour shortage problem which is affecting the whole industry. From the projects front, MGB is looking forward to launch the 5 remaining Rumah Selangorku Idaman MBI projects which will take place throughout this year and 2023,” he said.
– End –
About MGB Berhad
Established in 2007, MGB Berhad (“MGB”) has evolved into a construction and property development solutions provider, primarily focusing on providing efficient and cost-effective solutions across a wide range of industries, in particular building mass market and affordable living spaces for generational living in Malaysia.
Through its subsidiaries, MGB provides a full range of design, construction and development services including design and build, project management, civil engineering, value engineering, geotechnical specialisation, and manufacturing in Industrialised Building System (IBS) precast concrete products.
MGB has accumulated a strong track record, with more than 14 years in design and build to general construction for residential, commercial and industrial buildings as well as infrastructure works. MGB has successfully completed more than 19,000 units of properties, particularly in the affordable homes segment. In addition, MGB has also completed more than 5,000 homes using their IBS technology.
For more information, please visit www.mgbgroup.com.my.
For media inquiries, please contact:
Corporate Communication, Media & Digital, LBS at [email protected]
Ng Shu Wain at [email protected].