Stella Holdings Bhd said its unit has won a RM91.36 million sub-contract for a medium-cost apartment project undertaken by the Penang State Islamic Religious Council in the Seberang Perai Tengah district.
The Construction Industry Development Board Malaysia (CIDB) has launched the National BIM e-Submission Initiative (NBES) to accelerate the Building Information Modelling (BIM) technology adoption in Malaysia, and improve the review and approval process of building plans by local authorities.
Given the hefty debt on the government's shoulders, the revived Kuala Lumpur-Singapore High-Speed Rail (KL-SG HSR) project is expected to be fully funded and driven by the private sector, according to MyHSR Corp Sdn Bhd.
MyHSR Corp said it is embarking on a full-fledged request for information (RFI) that will be opened to all these three parties to submit their concept proposals.
The project is currently 76% completed and slated for completion in 4Q2023.
The company said Scientex Lestari proposes to develop the land into a mixed-development property, consisting of approximately 7,000 affordable houses.
The group, via wholly-owned subsidiary CIC Construction Sdn Bhd, had bought the initial 70% stake in RYRT International, a Kota Kinabalu-based construction player in January 2022.
Abdul Karim was the largest shareholder in the concrete product manufacturer after he acquired a 22.53% stake or 19.35 million shares for 70 sen apiece, or RM13.54 million, in May 2019.
The 4,794 square metres land, which comes together with a single-storey detached factory annexed with a three-storey office building, is being sold to Conway Terminals Manufacturer Sdn Bhd.
Econpile Holdings Bhd has been awarded a contract worth RM35.09 million to undertake the substructure works for a commercial development in Subang Jaya, Selangor.
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