Vizione Bags RM801mil construction Contracts
KUALA LUMPUR: Vizione Holdings Bhd’s (Vizione) subsidiary, Vizione Builder Sdn Bhd has secured three construction contracts with a cumulative value of RM801 million.
In an exchange filing today, the full-fledged integrated construction engineering group said the bulk of the contract worth RM405 million secured from Esplanade Parkcity Sdn Bhd.
The contract is to design and build including detailed structural infrastructure, mechanical and electrical as well as construction works in Puchong, Selangor, with a duration of 40 months to complete.
Another portion of the contract worth RM350 million was secured from Greenwood Development Sdn Bhd for the foundation and sub-structure work and main building work in Pekan Klebang, Melaka, with a duration of 31 months to complete.
The remaining RM46 million contract bagged from LCL M&E Engineering Sdn Bhd is for the construction and completion of 1,107 units of single-storey terrace house and other amenities in Batu Gajah, Perak.
Vizione said project one and two were secured on March 9, 2021 while project three was secured on February 23, 2021.
Managing director Datuk Ng Aun Hooi said this is a positive development for the group as it considerably enhances its outstanding order book which ultimately creates greater value for its shareholders.
“The three projects with a cumulative value of RM801 million would contribute meaningfully to Vizione’s earnings in the coming years, starting from the current financial year.
“Our team will continue to have their hands full working on a number of tenders for more construction projects,” he said in a separate statement today.
He said the company is also acquiring new technical expertise and partnering with companies that had deep experience and successful track record in infrastructure projects to prepare themselves for these upcoming projects.
“This, together with our own proven capabilities and track record of more than 25 years, we are confident to secure more jobs soon.
“Looking ahead, we are keeping our optimism for the coming financial year. Having sailed past the unprecedented headwinds over the past year and prevailed, we look forward to a revitalization year in 2021,” he said.
Ng expected things will get better for the group as it moves forward towards delivering improved financial performance in the financial year 2021 (FY21).
“We expect the construction sector to rebound and play a key role in Malaysia’s economic recovery with a number of large-scale projects expected to be implemented as announced in the 2021 Budget. All in all, we are positive on the prospects of the group premised on the above,” he added.
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Article Source : The Star, Vizione.com
