KUALA LUMPUR (July 28): Fajarbaru Builder Group Bhd has secured a RM101.3 million contract to complete the remaining building works of a commercial development for TYL Land & Development Sdn Bhd.

Its wholly-owned unit Fajarbaru Builder Sdn Bhd secured the letter of acceptance for the job from TYL Land on July 26, the group said in a filing with Bursa Malaysia today.

The contract period is for 27 months from the date of announcement and is expected to contribute positively towards Fajarbaru’s earnings and net assets for its 2018 to 2020 financial years, the filing added.

Specifically, the work entails building and related external works of two towers (a 26-storey and a 15-storey), two storeys of shops housing 48 units, 2 storeys of offices housing 24 units and a 5-storey elevated carpark.

Fajarbaru will also be building a facility floor in the development, which is located in Semenyih, with a swimming pool, gymnasium, multipurpose hall and café, among others.

TYL is the developer of L’Marq, a mixed development in Semenyih that sits on 2.7 acres of land and includes residential units comprising studio, loft and two-bedroom apartment units. It is also the developer’s maiden project, according to a 2015 news report.

In a separate announcement, Fajarbaru said it has accepted a letter of award from Malaysia Aiports (Sepang) Sdn Bhd in respect of the proposed apron line marking, access road connection and associated works at KLIA Air Cargo Terminal 1.

The contract, which is valued at RM705,000, will last for a period of 120 days, commencing Aug 1, 2017, the group added.

The contract is expected to contribute positively to the group’s earnings in 2018 financial year.

Shares in Fajarbaru closed down 0.5 sen today at 95.5 sen per share, on 1.06 million shares traded. The group had a market capitalisation of RM351 million.