ML Global clinches RM78.05 million construction contract

PETALING JAYA: ML Global Bhd's wholly owned subsidiary MITC Engineering Sdn Bhd (MITCE) has bagged a RM78.05 million contract from LCB Management Sdn Bhd for the proposed development of a 24-storey apartment building in Bandar Sunway, Petaling Jaya.

The group said in a Bursa Malaysia filing that the developer Wonderful Insights Sdn Bhd had instructed LCB Management, which is the managing contractor, to appoint MITCE as the works contractor for the project.
The project comprises 359 apartment units, with one level of podium facilities, four levels of podium car park and one level of semi-basement car park.
The contract is slated to go on for 24 months and is scheduled to commence in December 2017 and completed in December 2019.
"The contract will increase and enhance the existing order book of the company and its group of companies . With the contract in hand, the group's current outstanding order book is of approximately RM2.38 billion."
ML Global's shares closed 2.38% higher at RM1.72 with some 505,500 shares done.