YFG bags RM40m construction job in Penang

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KUALA LUMPUR (Aug 10): YFG Bhd has bagged a RM40 million contract to construct a 23-storey building housing 62 apartment units and 38 office units for Atta Global Group Bhd's subsidiary Tetap Gembira Development Sdn Bhd in Penang.

In a filing with Bursa Malaysia today, YFG said its wholly-owned subsidiary YFG Engineering Sdn Bhd has accepted a letter of award from Atta Properties Sdn Bhd, another unit of Atta for the contract works.

"The project involves the main building works, infrastructure and landscaping works of the proposed development of the project," it added.

The project will commence on Oct 1, with completion within 24 months.

"The project is expected to contribute positively to the revenue and earnings of the group for the financial year ending Sept 30, 2019," said YFG.

YFG shares were untraded today. The stock last closed at 0.5 sen on March 21, giving it a market capitalisation of RM3.05 million.