Share
- The project entails the construction of a 25-storey residential block which will house 264 units of serviced apartments.
KUALA LUMPUR (July 25): Ecobuilt Holdings Bhd (KL:ECOHLDS) has secured a RM34.65 million contract to undertake the main building works for a high-rise serviced apartment project in Shah Alam, Selangor.
The company said in a bourse filing that its wholly-owned Ecobuilt Construction Sdn Bhd had accepted the letter of award on Friday (July 25) from Messrs C Wei Architect, which is acting on behalf of MOI Development Sdn Bhd, a subsidiary of Titijaya Land Bhd (KL:TITIJYA).
The project entails the construction of a 25-storey residential block which will house 264 units of serviced apartments. This development is located along Jalan U6/20, Section U6, Shah Alam. Work on the contract is slated to begin on July 8, 2025, and to be completed in 22 months, by May 8, 2027.
Ecobuilt noted that this contract, its first announced win for the year, is anticipated to positively contribute to the group’s earnings starting from the financial year ending 2025 onwards. The company has been loss-making for the past three years. It reported a net loss of RM44.5 million in FY2024, RM31.1 million in FY2023 and RM13.6 million in FY2022, according to its annual report.
Ecobuilt's shares were not traded on Friday, having last closed at three sen, which valued the company at RM12.62 million.
Does Malaysia have what it takes to become a Blue Zone, marked by health and longevity? Download a copy of EdgeProp’s Blueprint for Wellness to check out townships that are paving the path towards that.
