KUALA LUMPUR (March 18): Gagasan Nadi Cergas Bhd said today it had received a letter of award from the Public Works Department to build an MRSM campus in Dungun, Terengganu for RM97.39 million.
The turnkey contract to design and build the campus will span from March 29, 2021 until its completion date of Oct 15, 2023, Gagasan Nadi Cergas said in a filing.
The group secured the letter of award (LOA) through its wholly-owned unit Nadi Cergas Sdn Bhd (NCSB).
“A formal contract will be entered into between NCSB and the department in due course. However, until the formal contract is executed, the LOA shall constitute a binding contract between NCSB and the department,” the filing said.
Shares in Gagasan Nadi Cergas rose one sen or 3.23% to close at 32 sen apiece today, valuing the property group at RM240.96 million.