Naim Indah bags RM24m project management consultant contract

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KUALA LUMPUR (June 9): Naim Indah Corp Bhd has bagged a project management consultant (PMC) job for a mixed development project that is tentatively valued at RM24 million.  

According to its filing with Bursa Malaysia today, the property investment and managment group was required to provide consultation and training services to GE Properties Sdn Bhd, in relation to a 30-storey mixed development dubbed "Boulevard Likas", and its related external works in Teluk Likas, Sabah.  

Naim Indah said the contract sum was calculated based on 5% of the gross development cost (GDC) of the Boulevard Likas.  

"For illustration purposes, based on the preliminary estimated GDC of RM480 million, the value of the award is estimated to be RM24 million," it added.  

"With the experience in construction of certain directors and key management of Naim Indah, the group has the skills, capabilities and resources in undertaking the role of project management consultant for the above project," the filing read.  

Naim Indah expects the contract to contribute positively to its future earnings.  

It added that the payable fees shall be based on certificates of progress work done at the site in each calendar month by the project consultants, or the pro-rate value of the total duration of the award contract period, or whichever is higher.

The duration of the project is five years. It is expected to commence its piling works in June 2015, said Naim Indah.

Shares in Naim Indah closed unchanged at 10.5 sen today, for a market capitalisation of RM81.08 million.

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