MYEG wins tender for workers village in Penang

KUALA LUMPUR: My EG Services Bhd's sub-subsidiary MY EG Lodging Sdn Bhd has secured a tender from Penang Development Corp for the setting up of a workers village and related facilities at Batu Kawan Industrial Park 3 in Seberang Perai Selatan, Penang.

In a filing with Bursa Malaysia, the group said the project is for MY EG Lodging to lease a land measuring 8.39 acres at a value of RM20.39mil for 30 years to build and operate the workers village and related facilities at its own cost.

The workers village, which is estimated to accommodate 7,500 foreign workers, will comply with Jabatan Tenaga Kerja Semenanjung Malaysia guidelines and will be certified with GreenRE.

The group said the project is expected to contribute positively to the group’s earnings per shares and net assets per share upon commencement of operations.