KUALA LUMPUR: Instacom Group Bhd, through indirect subsidiary Vivocom Enterprise Sdn Bhd, has secured a RM240.42mil contract from Coneff Corp Sdn Bhd to construct two commercial towers in Sungai Besi, Kuala Lumpur.
The telecommunication infrastructure and construction group told Bursa Malaysia that said the towers comprised service apartments, two storeys of retail units, a one-storey recreational centre and a seven-storey car park.
The project, to begin in March, will be completed within 45 months.
Coneff is wholly owned by Bina Bersatu Sdn Bhd, which in turn is 70% owned by Zamurni Sdn Bhd. Coneff was formed in 1989 to undertake developments projects, namely the joint-development Desa Tasik Project with the Kuala Lumpur City Hall.
Instacom shares shed 1 sen to close at 28.5 sen on Wednesday, with 50.79 million shares being traded.
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