Naim Indah Corp active, up on apppointed as project consultant

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KUALA LUMPUR (June 10): Shares of Naim Indah Corp Bhd rose in active trade after it bagged a project management consultant (PMC) job for a mixed development project that is tentatively valued at RM24 million.

At 9.11am, the stock rose half a sen to 11 sen with 6.74 million shares traded.

According to its filing with Bursa yesterday, the property investment and management 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.

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