KUALA LUMPUR (Feb 20): YKGI Holdings Bhd has bagged a RM271.62 million contract to build affordable houses in Sarawak.
In a bourse filing, YKGI said its 80.36%-owned subsidiary ASTEEL Development Sdn Bhd (ADSB) will undertake the Housing Development Corporation (HDC) project.
The project involves three phases of development comprising 426 units of affordable Sri Pertiwi landed houses, 484 units of affordable Sri Pertiwi apartments and 96 units of affordable Spektra Medium apartments on HDC's Land in Kuching.
ADSB will design and build the houses within three years from the date of formal approval of the project by the state planning authority.
YKGI said the project is expected to contribute positively towards the earnings and net assets of ADSB and YKGI group during the duration of the development.
YKGI’s share price closed unchanged at 15 sen on Monday for a market capitalisation of RM73 million.
Source: TheEdge - 21 Feb 2023
