MGB Bhd, a provider of construction and real estate development services, would build apartments and a building in Cybersouth, Sepang for a contract sum of RM172.3 million.

The contract was obtained by MGB’s wholly-owned subsidiary Construction & Engineering Sdn Bhd from Kita Sejati Sdn Bhd.The deal calls for building two 24-story residences as well as an eight-storey structure with parking and common area facilities.

According to MGB in a statement, the development project’s construction work is scheduled to start on September 1, 2022, and it will take 15 months to complete.

The development project is a part of the LBS Bina Group Bhd-developed KITA @ Cybersouth township.

MGB’s executive vice-chairman, Tan Sri Lim Hock San said: “With this contract win, our construction order book strengthens to a healthy RM2.21 billion which provides earnings visibility in the coming years.”

According to Lim, MGB has landed contracts worth about RM400 million in the last month.

The most recent was an RM225 million contract for the construction of two 29-story commercial service apartments in the Petaling district’s Taman Lestari Perdana, Bandar Putra Permai.

“We are heartened that MGB can carry on with steady construction projects amidst these uncertain times for the construction industry,” he said.

Regarding the future, Lim said that the company’s main goal is to make sure it completes its building projects on time without compromising quality.

He said that the use of the company’s internal IBS precast system has assisted in easing the problem of a labour shortage that is plaguing the whole construction sector.

Lim said that between now and throughout 2023, MGB is eager to launch and begin construction on the five last Rumah Selangorku Idaman MBI projects.

Source: New Straits Times, 12 August 2022