PMHB’s JV secures RM218m contract

Pesona Metro Holdings Bhd (PMHB) has announced that Intrasegi Sdn Bhd, a joint venture formed by Pesona Metro Sdn Bhd and Intrasegi Sdn Bhd, has received a letter of award for construction work worth RM218.2 million.

The company said the award from Pembinaan Kery Sdn Bhd is for the construction and completion of superstructure works, external works within boundary, associated works and ancillary buildings.

Pembinaan Kery is a wholly owned subsidiary of Melati Ehsan Holdings Bhd.

The work is related to the development of commercial towers located in Kuala Lumpur’s prime area of Jalan Conlay.

The project, which is expected to take 26 months to complete, is expected to start this September.

PMHB said the award of the project is expected to contribute to the company’s earnings and enhance its net asset value. PMHB’s share price close at 30 sen last Friday.

In 2012, PMHB was listed on the Main Market of Bursa Malaysia Securities Bhd.

As the group continues to grow, it has ventured into other complementing businesses that bring recurring revenues. It acquired Pesona Saferay Sdn Bhd that manufactures polyurethane products that are used for interior and exterior facade applications, and also PM2 Building System Sdn Bhd that produces modular partition panels which is an excellent replacement of conventional bricks. — TMR