Crest Builder awarded RM175.5m contract.

In our announcements earlier today, we announced that we had obtained another Letter of Award; our 2nd this year, and a second in 2 months. The contract is for the construction and completion of two 40 storey serviced apartments for RM175.5million. The developer is Exceljade Sdn Bhd - a wholly owned subsidiary of S P Setia Berhad. This Project, also known as Setia Sky Residences, will be the latest to grace the magnificent Kuala Lumpur skyline.

I shall blog a bit more later; meanwhile this is the article from The Edge.

KUALA LUMPUR: Crest Builder Sdn Bhd, a wholly owned subsidiary of Crest Builder Holdings Bhd, has been awarded a contract by Messrs Exceljade Sdn Bhd for the construction of super-structure works of two towers of 40 storey serviced apartments for a contract sum of RM175.5 million.

The construction will be on part of Lot 28 and Lot 29 in Jalan Tun Razak/Jalan Raja Muda Abdul Aziz in Kuala Lumpur, said Crest Builder Holdings in a filing to Bursa Malaysia Dec 28.

The contract period is 24 months from the date of site possession, which has been set out on Jan 2, 2010 and expected to be completed in Jan 1, 2012. Crest Builder Holdings said the contract is expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2010 onwards.