PETALING JAYA: Seacera Group Bhd has proposed to acquire a 70% stake in a construction outfit, Teras Sari Resources Sdn Bhd (TSRSB), which has just been awarded a RM338.14mil contract to upgrade road in Pekan, Pahang.
In a statement, the tile manufacturer and property and construction group yesterday said its wholly owned subsidiary Seacera Builders Sdn Bhd has entered into a heads of agreement with LT Century Development Sdn Bhd and LTC Holdings Sdn Bhd for the proposed acquisition of a 70% equity interest in TRSB for a purchase consideration to be determined later. The target company yesteday received and accepted a letter of intent from Jabatan Kerja Raya Malaysia for RM338.14mil job to upgrade the federal road from Bandar Pekan to Kampung Sungai Miang, Pekan, Pahang.