KUALA LUMPUR: Syarikat Perumahan Negara Bhd (SPNB) has signed a memorandum of understanding (MoU) with Ajiya Bhd to adopt the latter’s Green Integrated Building Solutions (AGIBS).
Under the agreement, Ajiya will supply its patented AGIBS for about 20,000 homes to be developed by SPNB under the Felda New Generation Housing Project.
SPNB is a wholly-owned unit of Ministry of Finance Inc under the Finance Ministry.
SPNB group chief executive officer Datuk Ahmad Azizi Ali said the project, with a gross development value of RM2.8bil, would kick off in Terengganu.
AGIBS is a patented Industrialised Building System (IBS) that provides the construction industry with sustainable and fully-integrated building solutions to overcome manpower constraint, shorten construction time and reduce operating costs.
“By implementing IBS in our project, we can speed up the construction period from 24 months to eight months, have a more sustainable environment and better product quality,” he told reporters after the MoU signing ceremony.
Ahmad said SPNB had been tasked to build 100,000 homes for the civil servants under the government subsidised house ownership programme.
According to Ajiya’s filings with Bursa Malaysia, the AGIBS will be used for affordable housing projects, namely Rumah Aspirasi Rakyat, Rumah Idaman Rakyat and Rumah Generasi Baharu Felda.
Also, Ajiya will appoint and/or engage SPNB Edar Sdn Bhd as its exclusive supplier for building material in respect of the housing projects.
Meanwhile, Ajiya managing director Datuk Chan Wah Kiang said AGIBS has its advantages and building affordable homes with the IBS is the trend going forward.
“AGIBS emphasise safety at construction site, it does not use heavy machinery and use more skilled labour compared to the traditional method of building homes,” said Chan.
While the MoU is effective for one year, Chan noted that the company hoped to conclude the deal as soon as possible.
In terms of revenue contribution, Chan said the company would possibly derive about RM20,000 to RM30,000 per unit into its topline.
He explained that the system comprised four to eight series of housing components – light weight metal wall frames, metal roofing and awning, metal light weight roof trusses, metal doors and window frames and metal structural floor decking, among others.
Chan said the company aimed to provide the system to more affordable homes built by developers in the private and public sector.