By TMR / Pic by TMR FILE PIX
Vizione Holdings Bhd’s wholly-owned subsidiary, Vizione Builder Sdn. Bhd., has secured a RM116.0 million contract from Inspirasi Langkawi Sdn. Bhd. for the main building works for the proposed construction of a 4-star 14 levels hotel building in Langkawi, Kedah.
In a statement today the company said the 14-storey hotel building comprises 238 units of hotel rooms, 6 service apartments, 5 office units, and 3 shop units.
The project is expected to commence on 1 September 2021 and is slated to complete in two years.
“Given the rather challenging environment in 2021, we are particularly delighted to have secured our fourth contract of the year. The newly awarded RM116.0 million contract will further enhance earnings visibility of Vizione for the next few years. This success is part of our continuing efforts to secure more construction projects,” said Managing Director of Vizione, Datuk Ng Aun Hooi.
He added the company is optimistic about the outlook of the construction industry.
“Earlier in August, the government has announced that construction operations are allowed to resume at a certain capacity depending on the vaccination rate of employees. With over 90% of our workers vaccinated, we have gradually restarted operations at our construction sites. At the same time, we continue to prioritise the safety of our workers by strictly complying with the Standard Operating Procedures laid out by the authorities,” said Ng.
He added Vizione’s glove venture also making good progress with expansion plans are intact.
“Demand from both overseas and local customers remains robust given the heightened health awareness and prevailing high number of Covid-19 cases in many countries. With healthy contributions coming from this healthcare division, we have evolved to reduce reliance on the low-cost housing construction sector,” Ng said.