KUALA LUMPUR: Vivocom Intl Holdings Bhd’s unit, Vivocom Enterprise Sdn Bhd (VESB), has signed a collaboration agreement with Seni Perspek Sdn Bhd for the development of a residential project in Kinta, Perak, for RM189.54mil. The project, in Bandar Tasik Amanjaya, consists of block A3 and Block E11 of four phases with a minimum of 4,032 units of residential units to be built.
“The project duration for each phase is 36 months and all phases may run concurrently,” the company said in a filing to Bursa Malaysia.
The cost and outlay by VESB, as the turnkey contractor to implement the project, would be financed by way of internally generated funds and/or bank borrowings, as and when required. Barring unforeseen circumstances, the project was expected to contribute positively to the future earnings of Vivocom, the company said. – Bernama