Crest Builder poised to land another contract

Artist's impression of The Bank, Crest Builder's 46-storey atop the Dang Wangi LRT station.

PETALING JAYA: Construction and property developer, Crest Builder Bhd is poised to secure a RM300mil contract --- its second over the last one week.

Sources said the company was the leading candidate to for a contract to build two mega towers for a private developer in Petaling Jaya.

It is learnt that when tenders were closed a month ago and Crest’s proposal was the best.

The company has so far order book of RM1bil and the latest job would increase its books to RM1.3bil, keeping it busy for the next 42 months.

Last week the company announced that it won the mandate to construct the main building works of a block of 44-storey hotel and car pack in Kuala Lumpur for RM149.5mil.

Crest Builder, which has won several large contracts to build high rise buildings, registered a net profit of RM20.28mil on a turnover of RM342.9mil for the nine months until September 30, 2017.

Turnover and profit were significantly higher compared to the corresponding period last year where it managed a profit of RM9.9mil on a turnover of RM180.14mil.

The company attributed the stronger performance this year to the higher sales generated from its ongoing property projects.

Crest Builder started as a small construction outfit in 1983 with less than 10 staff by the late Yong Soon Chow. Today it is a large builder and property developer with more than 500 people.