Chin Hin unit awarded RM238.3 million construction job in Johor

PETALING JAYA: Chin Hin Group Bhd's indirect wholly owned subsidiary Metex Modular Sdn Bhd has clinched a RM238.3 million contract for the construction of an integrated workers complex with comprehensive facilities in Pengerang, Johor.
It told Bursa Malaysia that the contract it had on December 15 accepted a letter of award from Saujana Vision Sdn Bhd, which is involved in the business as builders and contractors of construction works.
The project will be developed with land owner Kumpulan Prasarana Rakyat Johor Sdn Bhd and Saujana Vision.
Chin Hin said the contract is for a contract period of 12 months commencing from January 1, 2018 and it will be funded via internally generated funds and/or external borrowings.
Mertex Modular is involved in the provision of design, engineering, manufacturing and construction of modular unit and prefabricated, prefinished volumetric construction solutions.
The contract is expected to have positive contribution to Chin Hin's earnings per share, net assets per share and gearing.
At 12.30pm, Chin Hin shares gained 3 sen or 2.5% to RM1.24, with some 525,900 shares changing hands.