PETALING JAYA: Spring Gallery Bhd, the ceramics company formerly known as PFCE Bhd, has received a RM75mil job for an apartment project in Kemaman, Terengganu.
Spring Gallery said in a filing with Bursa Malaysia that its wholly-owned subsidiary Profit Sunland Sdn Bhd inked a managing contractor deal with property developer JV Muhibbah Sdn Bhd, for the Southern City Phase 1B 18-storey apartment project.
The deal is to provide project management facilities and administration, management, consulting, reporting, communication, co-ordination of construction and sales for the project.
StarBiz had reported that Spring Gallery was venturing into the property development sector. The entrance of its new substantial shareholder and executive director Kuan Poh Huat is the catalyst behind this business transformation.
Kuan emerged in the company after he took up a 10% private placement in April. The company placed out 9.5 million new shares at 52.2 sen to Kuan, and raised RM4.96mil.
