ML Global clinches RM1.04bil worth of jobs

LBS Bina Group Bhd managing director Tan Sri Lim Hock San. SHAFWAN ZAIDON/The Star.

KUALA LUMPUR: ML Global Bhd has clinched three contracts worth a total of RM1.04bil from parent company LBS Bina Group Bhd.

The project management and construction firm, which is 55.3% owned by LBS Bina, told Bursa Malaysia on Friday that its unit MITC Engineering Sdn Bhd had received a letter of award to develop four Rumah Selangorku apartment blocks in Bandar Saujana Putra valued at RM168.11mil.

In addition, MITC received letters of intent for piling, pilecap and building works for four condominium towers in Bukit Jalil worth an estimated RM687.19mil, and for the design, feasibility study and building works for two blocks of serviced apartments in Sepang with an estimated value of RM188.81mil.

ML Global said the projects would double the group’s current outstanding order book to about RM2.08bil.

The Rumah Selangorku job will start in June for completion by the third quarter of 2019 while the Bukit Jalil project is expected to begin in October and be finished by the fourth quarter of 2020.

The work in Sepang, meanwhile, is expected to start in July and is targeted for completion by the first quarter of 2020.

MITC Engineering, which used to be LBS’ 75%-owned construction arm, was injected into ML Global last year for RM225mil. 

Tan Sri Lim Hock San is group managing director of both ML Global and LBS Bina, and a major shareholder of LBS Bina.