Vestland secures RM170m contract for SOHO and retail project in Subang Jaya

Vestland Bhd has secured a design and build contract worth RM170 million for the construction of a main building and associated works for small office home office (SOHO) and retail units in Subang Jaya.

The contract win has increased Vestland’s total outstanding order book to approximately RM1.7 billion, ensuring a strong earnings outlook for the next four to five years. 

The company’s subsidiary, Vestland Resources Sdn Bhd, accepted the letter of award from Tafi Home & Office Sdn Bhd (THOSB), a company engaged in furniture manufacturing, trading, and construction activities.

The construction works are expected to be completed within 34 months from the commencement date, which will be determined by THOSB. 

Vestland anticipates that this contract will have a positive impact on its earnings and net assets throughout the duration of the project. 

The company’s share price closed unchanged at 37 sen, resulting in a market capitalization of RM349 million. –TMR