Friday 29 Mar 2024
By
main news image

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) has bagged three contracts totalling RM485 million from Destination Resorts and Hotel Sdn Bhd (DRH) to build a conference centre and two hotels, namely Desa Desaru and Westin Desaru Resort, in Desaru Coast, Johor.

In a filing with Bursa Malaysia yesterday, MRCB (fundamental: 1.3; valuation: 1.4) said the construction projects comprise a RM61.4 million conference centre, the 386-room Desa Desaru hotel valued at RM212 million and the 275-room Westin Desaru Resort worth RM211.6 million.

“The construction period of the projects is between 19 months and 21 months from the date of site possession of June 25, 2015 (today),” added MRCB. DRH, a wholly-owned subsidiary of Khazanah Nasional Bhd, is the strategic owner and developer of Desaru Coast.

 

This article first appeared in The Edge Financial Daily, on June 25, 2015.

      Print
      Text Size
      Share