KUALA LUMPUR: KPS Consortium Bhd
’s (KPSCB) wholly-owned subsidiary, Hai Ming Development Sdn Bhd (HMD), has received a letter of award for the construction of a 35-storey residential development in Cheras, Selangor, for a contract sum of RM106.96 million.
In a Bursa Malaysia filing, KPSCB said the project is scheduled to commence on March 25, 2026 and end on March 24, 2029.
The group said the contract works consist of preliminaries and general works, mobilisation and demobilisation, building works, mechanical and electrical works, safety precautions and related insurance, as well as as-built and shop drawings.
The scope further includes ancillary and completion works, obtaining regulatory approvals, liaising with consultants and the employer, rectification of defects, submission of drawings and method statements, attendance at site meetings, and ensuring compliance with all relevant requirements.
"The acceptance of the contract is in the ordinary course of business of HMD and is expected to enhance the existing order book and provide a steady stream of revenue for the group over the next three years,” said the filing.
The contract is not expected to have any effect on KPSCB’s share capital but will contribute positively to earnings and net assets per share for the financial years ending 2026 to 2029. - Bernama
