Mercury Industries unit wins RM106.6m PR1MA contract

KUALA LUMPUR: MERCURY INDUSTRIES BHD's 70 per cent-owned subsidiary, Paramount Bounty Sdn Bhd, has secured a RM106.6 million contract from Upaya Jernih Sdn Bhd.

The contract is for the construction of 648 serviced apartment units and external works under the Perumahan Rakyat 1Malaysia scheme.

In a filing with Bursa Malaysia on Friday, the company said the project comprised four apartment towers and a three-storey podium carpark in Pekan Tanjung Kling, Malacca.

"The contract period is for 29 months commencing Feb 1, 2016. The project is expected to contribute positively to the net assets and earnings of the Mercury Group for the financial year ending Dec 31, 2016," it said. - Bernama
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