by AUFA MARDHIAH / pic source: Jiankun FB
PROPERTY developer Jiankun International Bhd has been tapped as the main contractor for affordable residential apartments in Sentul, Kuala Lumpur, worth RM90.58 million by Menara Rezeki Sdn Bhd, a company linked to the family of Umno president and former Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
Jiankun wholly owned subsidiary JKI Construction Sdn Bhd received a conditional letter of award from Menara Rezeki’s unit Menarez Development Sdn Bhd as the main contractor for the design and development of one block residential apartment of “rumah mampu milik Wilayah Persekutuan” (RumahWIP).
The conditional contract, running for 45 months commencing from the site access date, comprises common facilities and shop units at PT 6963, Jalan Sentul Pasar, Taman Pelangi, Jiankun said in an exchange filing yesterday.
The deal requires Jiankun shareholders’ approval as it is deemed a related party transaction. Jiankun ED Datuk Saiful Nizam Mohd Yusoff is also the MD of Menara Rezeki and a director at Menarez Development. He is also a shareholder of Jiankun, Menara Rezeki and Menarez Development.
Saiful Nizam, 52, is the spouse of Ahmad Zahid’s daughter, Datuk Nurul Hidayah Ahmad Zahid.
For the first half ended June 30, 2022, Jiankun posted a net loss of RM3.29 million on the back of RM9.86 million in turnover.