Vertice bags RM22m apartment job

PETALING JAYA: Vertice Bhd, formerly known as Voir Holdings Bhd, said its unit Million Twilight Sdn Bhd has clinched a RM22 million sub-contract from Magjaya Resources (M) Sdn Bhd for the construction of one block of affordable apartments in Penang.
In a statement today, the group said the project comprise of 19 storeys of affordable apartments, a five-storey carpark and two recreational centres. The 21 months contract will commence on Dec 1, 2017 until Aug 31, 2019.
“With this award, we will be able to continue to pave the way to enhance the group’s prospects from the construction industry considering the challenging prospects in the fashion retailing business,” its chairman Datuk Zarul Ahmad said.
For the third quarter ended Sept 30, 2017, the group’s net loss widened to RM310,000, against RM33,000 in the previous corresponding quarter, mainly due to expenses incurred for the proposed corporate exercise held during the year.
For the nine months period, it registered a net loss of RM1.9 million, from a net profit of RM32,000 previously.
Revenue increased by 33.1% and 25.9% for the current quarter and year-to-date nine months period ended Sept 30, 2017 respectively compared with the preceeding year, mainly contributed by the construction segment.
The group gained 3 sen or 2.8% to RM1.10 with 350,700 shares done.