KUALA LUMPUR: Vivocom Intl Holdings Bhd’s subsidiary Vivocom Enterprise Sdn Bhd (VESB) has inked a deal which allows it to construct up to four phases of residential units in Bandar Tasik Amanjaya, Perak, for up to RM758mil in payment.
The construction firm told Bursa Malaysia that VESB had signed a joint collaboration agreement with project developer Seni Prospek Sdn Bhd whereby VESB was appointed the turnkey contractor for developing Block A3 (measuring 53.54 acres) and Block E11 (measuring 12.48 acres).
The project has four phases with a minimum of 4,032 units to be built, and each phase has a provisional contract value of RM189.5mil.
Vivocom said VESB had the rights to construct and complete phase 1 (in Block A3) with the irrevocable option to construct and complete any and all of the remaining phases (phases 2 and 3 in Block A3 and phase 4 in Block E11).
The duration for each phase is 36 months, and the phases may run concurrently.
According to the portal of Perak state government arm Menteri Besar Inc, the gross development value of the township (formerly known as the Kinta Lake District) is RM2.2bil entailing the construction of 4,000 housing units over 15 years.
The township project was supposed to have kicked off in early 2014 but was reportedly delayed due to illegal squatter problems.
It was previously reported that Putrajaya Perdana Bhd would develop the township with Menteri Besar Inc. Vivocom’s announcement did not reveal whether Seni Prospek is related to the Putrajaya Perdana group.
(Editor’s note: In Vivocom’s announcement to Bursa Malaysia on Thursday, the name of its collaborator is spelt two different ways: “Seni Prospek Sdn Bhd” in the Description box and “Seni Perspek Sdn Bhd” within the body text.)
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