LFE

LFE Corporation Bhd has secured a total of RM70.83 million worth of contracts from related-party companies for works in Cyberjaya and Ara Damansara, involving both construction and material supply.

In separate filings with Bursa Malaysia, LFE said the contracts were awarded to its wholly owned subsidiaries, LFE Engineering Sdn Bhd and LFE Innovative Sdn Bhd, by Puncak Concept Sdn Bhd and SD Ara Damansara Development Sdn Bhd.

Two contracts totalling RM7.89 million were awarded by Puncak Concept for the proposed development of Lot 115104 in Cyber 10, Cyberjaya.

Under these contracts, LFE Engineering will carry out earthworks, precast concrete piling, and retaining wall construction for RM3.07 million, while LFE Innovative will supply and deliver the related materials for RM4.82 million.

Both contracts commence on June 30, 2025, and are scheduled for completion by March 29, 2026.

Meanwhile, SD Ara Damansara Development awarded two contracts for the Oasis Ara project at Jalan PJU 1A/46, Ara Damansara, totalling RM62.95 million.

These cover design and build works involving underpinning, structural strengthening, and the demolition and reconstruction of ramps and associated structures.

The construction contract, worth RM30.49 million, was awarded to LFE Engineering, while the material supply contract, valued at RM32.46 million, was granted to LFE Innovative.

Both jobs also start on June 30, 2025, and will run for 21 months, with expected completion on March 29, 2027.

LFE said all four contracts are expected to contribute positively to the group’s earnings and net assets per share for the financial year ending Dec 31, 2025, and up to their respective expiry periods.

The group disclosed that its executive chairman and substantial shareholder Chuah Chong Ewe is also a director and shareholder in both Puncak Concept and SD Ara Damansara Development, making all four awards related-party transactions.

The two SD Ara contracts are classified as recurrent related-party transactions (RRPTs) and will require shareholder approval at an upcoming EGM. — TMR

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