Vestland bags RM156.9mil service apartment job

PETALING JAYA: Vestland Bhd (VLB) has accepted a letter of award (LOA) from Mercu Majuniaga Sdn Bhd for construction work to a 51-storey serviced apartment at Lorong Raja Uda 2, Kuala Lumpur, worth RM156.91mil.

In a filing with Bursa Malaysia, the construction company said the contract comprises the design, approval, construction, completion, testing and commissioning of the design and build for the service apartment and its related facilities.

“Completion of the design and build works under the contract shall be on July 31, 2027, which is 26 months from the commencement date on May 29, 2025.”

VLB said the contract will have no effect on the issued share capital and substantial shareholders’ shareholdings of the company as there is no issuance of new ordinary shares in the company.

“The contract is expected to contribute positively towards the earnings and net assets of the companythe company and its subsidiary for the duration of the contract, assuming no material delay in the timing.”