Pesona Metro bags RM218.2m construction job

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KUALA LUMPUR (Aug 17): Pesona Metro Holdings Bhd has bagged a RM218.22 million contract from a wholly-owned subsidiary of Melati Ehsan Holdings Bhd to build an office tower in Jalan Conlay, Kuala Lumpur.

In a filing with Bursa Malaysia today, Pesona Metro said the project involves the construction of a 41-storey commercial tower that will house 32 floors of office suites, one level of facilities, five levels of elevated carpark, and three levels of basement carpark.

It said the project will be undertaken by its joint venture company — Pesona Metro Sdn Bhd JV — which it formed via Pesona Metro Sdn Bhd (PMSB) with Intrasegi Sdn Bhd. PMSB is a wholly-owned unit of Pesona Metro.

"The project is for a duration of 26 months commencing Sept 1, 2018, and ending on Oct 31, 2020," it said.

"The project is expected to contribute positively to the earnings and enhance the group's net assets during the duration of the project," the group said.

It expects to fund the project using internal funds, which will have no effect on its gearing.

Pesona Metro shares closed up 5.17% or 1.5 sen at 30.5 sen today, valuing the group at RM211.96 million.