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PETALING JAYA (July 18): Pesona Metro Holdings Bhd's wholly owned subsidiary, Pesona Metro Sdn Bhd, has secured a RM247.5 million contract from Setia Alam Medical Centre Sdn Bhd to undertake the piling, basement, main building and external works for a private hospital development in Setia Alam, Selangor.
In a Bursa Malaysia filing on Friday, the group said its subsidiary had accepted the letter of award on July 17.
The awarded works cover piling, basement, main building and external works for a three-block private hospital development comprising hospital facilities, supporting amenities, mechanical and electrical (M&E) spaces, and parking facilities at Persiaran Setia Dagang, Setia Alam, Shah Alam.
The project will commence on July 28, 2026 and is scheduled for completion on Jan 28, 2029, over a 30-month period.
Setia Alam Medical Centre Sdn Bhd, a subsidiary of Mega First Corp Bhd, is principally engaged in the development and operation of a medical centre.
Pesona Metro said the project is not expected to have any effect on the company's share capital or shareholding structure, but is expected to contribute positively to the group's earnings and net assets over the duration of the project.
The group said the principal risks include project completion and credit risks, adding that it will implement appropriate measures to mitigate those risks.
The board is of the opinion that acceptance of the project is in the best interest of the group after considering, among other factors, the potential financial contribution of the project to the group's future earnings.
The award, being in the ordinary course of the group's business, does not require the approval of the company's shareholders or any relevant regulatory authority. None of the company's directors, major shareholders or persons connected to them has any direct or indirect interest in the project.
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