KUALA LUMPUR: Kumpulan Jetson Bhd
bagged a RM919.32mil contract to build high-rise serviced apartments and a hotel along Jalan Conlay here.
The construction company announced on Thursday it had accepted the sub-contract for the projects from MCC Overseas (M) Sdn Bhd, which is a subsidiary of China Metallurgical Group Corporation.
At RM919.32mil, this is 9.5 times its current market capitalisation of RM96.94mil at midday. Its share price rose 3.5 sen to 48 sen.
Jetson said the building works were valued at RM336.67mil and prime cost and provision sum at RM582.65mil.
Under phase one, it involved the basement and a 10-story podium block, while under phase two, the Tower A comprises of 61 stories of serviced apartments and phase three or Tower B is 56 stories of seriviced apartments.
Phase four is Tower C which comprises of a 72-storey hotel and hotel suites.
“The project is expected to contribute positively to the earnings of Jetson and its subsidiaries for financial years ending 2017 to 2021,” it said.
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