KUALA LUMPUR (May 24): Gagasan Nadi Cergas Bhd has won contracts totalling RM385 million from Paramount Corp Bhd to build 2,005 units of high-rise affordable homes in Selangor.
The turnkey contracts involve 929 units of affordable homes in Kemuning Utama worth RM189.79 million, and 1,076 units of affordable homes in Greenwood Salak Perdana worth RM195.21 million.
Gagasan Nadi Cergas said construction is scheduled to commence in the second and third quarters of 2022 for 36- and 48-month periods.
The group said the deal is expected to contribute positively to the group's earnings and net assets per share for the year ending Dec 31, 2021.
Gagasan Nadi Cergas shares rose 1.5 sen or 5% to close at 32 sen, giving the group a market capitalisation of RM237.19 million.