Categories: NewsProperty

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

Dayang Norazhar

Recent Posts

TikTok’s rules deter researchers from crunching data on users, misinformation

As TikTok gets more popular, researchers at leading academic institutions want to study what users…

13 hours ago

China hosts esports’ biggest moment with Tencent at the wheel

China scythed nearly $600 billion off Tencent Holdings Ltd.’s market value in its crackdown on…

13 hours ago

Goldman Sachs in talks with Malaysia to resolve latest 1MDB clash

Three years after Goldman Sachs Group Inc. agreed to fork over more than $5 billion…

15 hours ago

Concern mounts for ethnic Armenians in Karabakh

SHUSHA, AZERBAIJAN – Concern was growing for ethnic Armenians in Nagorno-Karabakh on Sunday as Azerbaijani…

15 hours ago

Ten-man Man City extend Premier League lead, Man Utd bounce back at Burnley

MANCHESTER – Manchester City moved five points clear at the top of the Premier League…

15 hours ago

MACC arrests former pol-sec to senior minister, company owner for alleged book printing graft

KUALA LUMPUR – A former political secretary to a former senior minister was one of…

1 day ago