Vizione unit clinches RM465m affordable housing contract

PETALING JAYA: Construction firm Vizione Holdings Bhd, hit a high of 16 sen today, after clinching a contract worth RM465 million from Hektar Aneka Sdn Bhd to construct five blocks of the affordable housing project "Rumah Mampu Milik Wilayah Persekutuan" and 14 shoplots.
The stock shed some of its gain to close 3.33% higher at 15.5 sen with a total of 36 million shares traded. It has a market capitalisation of RM548.5 million.
In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary Wira Syukur (M) Sdn Bhd accepted the letter of award from Hektar yesterday.
The project is expected to commence this month and completed within 40 months from the commencement date.
The contract covers the construction of 2,400 units or 46 levels of Rumah Wilayah Persekutuan, facility floor, lobby and podium car park with two sub-basements on lot 8947 and 8948, Jalan Gombak, Mukim Setapak, Kuala Lumpur.
Vizione said the contract marks as an expansion of the group's current customer base and further enlarges its order book, which is expected to provide a steady stream of revenue for the group over the next four years.
Barring any unforeseen circumstances, the group said it expects the contract to contribute positively to its earnings and earnings per share for the next four financial years, as earnings are realised in stages, in line with the progress made on the project.