PETALING JAYA: MGB Bhd
has accepted a letter of award from ROSHN Group for the construction of 75 villa units under the Marafy Al Arous Development Project, Phase 1A Zone B – Blocks 104, 105 and 106, in Saudi Arabia, worth RM34.76mil.
In a filing with Bursa Malaysia, the construction company said the commencement date shall be as specified in the notice to proceed, to be issued by the employer. The time for completion of the works is 242 calendar days, approximately eight months, from the commencement date.
MGB said the contract is expected to contribute positively to the group’s future earnings and strengthen its order book.
“The project represents a strategic step in expanding the group’s construction presence in Saudi Arabia, in line with long‑term regional growth strategies.”
The contract will have no effect on MGB’s issued share capital, but is expected to contribute positively to the revenue and net assets per share of the company and the group.
