Fajarbaru secures RM108m high-rise development contract from Malton

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KUALA LUMPUR (Aug 24): Fajarbaru Bulider Group Bhd has secured a RM108.03 million contract from Malton Bhd to develop the second phase of the Duta Park Residences high-rise residential project along Jalan Kuching.

The two-year contract is for the second phase of the project, the group said in a stock exchange filing. The first phase, awarded in June last year, was worth RM297.5 million.

The proposed high-rise development comprises three tower blocks: 46-storey Tower A, 49-storey Tower B, and 30-storey Tower C encompassing 536, 572 and 268 units respectively.

They are constructed on top of a three-level basement car park and a 10-level podium car park and facilities.

Shares of Fajarbaru closed 3.5 sen or 8.05% higher at 47 sen today, valuing the group at RM175.72 million. Year-to-date, the counter has risen 30.56%.

(Editing by S Kanagaraju)