MGB

MGB Bhd, via wholly-owned unit MGB Construction & Engineering Sdn Bhd, has accepted a letter of award from CI Medini Sdn Bhd for main building and associated external works on a service apartment development in Medini, Iskandar Puteri, Johor Bahru.

The contract, worth RM185.99 million, covers Phase 1 of the project comprising a 32-storey Tower A with 405 units, a seven-storey podium car park with facilities on the eighth floor, and a guardhouse.

Work is scheduled to begin on Sept 1, 2025, and be completed by Nov 30, 2027.

Phase 2 of the project will involve a 31-storey Tower B with 397 units, to be completed within 18 months from its commencement date, which will be advised later.

MGB said the latest award raises its outstanding order book to approximately RM1.21 billion, and is expected to contribute positively to the group’s earnings and net assets over the contract period. — TMR

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