PETALING JAYA: Siab Holdings Bhd has accepted a letter of award from Exsim Noordin Sdn Bhd for building and infrastructure works in George Town, Penang, worth RM176.18mil.
In a filing with Bursa Malaysia, Siab said the contract will entail alteration and addition for seven units of existing two-storey heritage buildings at Jalan C.Y. Choy to four units of shop; conversion of the upper level of two units of existing two-storey heritage buildings at Jalan C.Y. Choy from residential to commercial; and construction of a 29-storey serviced apartment building comprising four units shop at level one, car parks at levels two to six, recreational facilities at level seven, 28 and 29 and 603 units of serviced apartments at level seven to level 27.
“The duration of the project is 30 months from the date for possession of the site of the project on Aug 1, 2024.
“The acceptance of the letter of award is expected to contribute positively to the earnings and net assets of the company for the financial year ending Dec 31, 2024 and throughout the duration of the project,” Siab said.
