KUALA LUMPUR (Jan 2): YFG Bhd has bagged a RM127 million contract to build 666 units of semi-detached single-storey PR1MA homes and 74 units of shop lots, including the relevant infrastructure works in Penor, Pahang.
In a filing with Bursa Malaysia, the Practice Note 17 (PN17) company said its wholly-owned subsidiary YFG Engineering Sdn Bhd accepted the letter of award from Seri Ceka Sdn Bhd (SCSB) for the job.
"The contract is a fixed lump sum with allowance for any price variation or fluctuation on labour, plant, equipment and materials, and is subject to the execution of a formal contract, upon finalisation of the full set of contract documents," YFG said.
The project, which involves the construction works and infrastructure and landscaping work, is expected to commence on a date to be notified in writing by SCSB, and to be completed within 36 months from the commencement date, the company added.
The project is expected to contribute positively to the revenue and earnings of the company for the financial year ending Sept 30, 2019.
Trading in YFG shares has been suspended since March 22 last year. The company fell into PN17 status in 2015 after its auditors expressed an emphasis on the company and its subsidiaries' ability to continue as a going concern.