Saturday 04 May 2024
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KUALA LUMPUR (Aug 30): Vizione Holdings Bhd has secured a RM116.05 million contract to build a four-star hotel in Langkawi.

Besides 238 hotel rooms, the 14-storey building will also comprise six service apartments, five office units and three shop units, the group said in a filing with Bursa Malaysia.

The two-year contract, awarded by Inspirasi Langkawi Sdn Bhd, will commence on Sept 1.

Vizione said the contract will further enlarge the group’s order book and provide a steady stream of revenue over the next three financial years.

It added that the project is expected to contribute positively to its earnings for the three years as the earnings and attributable profits will be realised in stages over the tenure of the contract.

Vizione’s share price closed half a sen or 3.7% higher at 14 sen today, valuing the group at RM138.34 million.

Edited ByS Kanagaraju
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