PETALING JAYA: Ikhmas Jaya Group Bhd has accepted a letter of award to undertake the construction of a RM166.4mil “suite” serviced apartments for Bina Puri Holdings’s property subsidiary Star Effort Sdn Bhd.
The bore piling and bridge specialist said it had accepted the terms and conditions of the letter through its wholly-owned subsidiary, Ikhmas Jaya Sdn Bhd yesterday.
In a filing with Bursa Malaysia, the group said the contract was for a period of 29 months and was expected to commence on January 2, 2016 and to be completed by June 1, 2018.
The project consists of two-blocks of residential suite serviced apartments with 357 units, and will be located at Jalan Talalla, Section 69, Kuala Lumpur.
The group said the project was expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2016.
