NST Business
KUALA LUMPUR: Protasco Bhd has been awarded a RM442.6 million project under Pembangunan Projek Perumahan Penjawat Awam 1Malaysia (PPA1M), in a joint venture with Kop Mantap Bhd.
Protasco’s wholly owned subsidiary, Protasco Development Sdn Bhd, will hold 51 percent in the joint venture while Kop Mantap, wholly owned subsidiary of Koperasi Polis Diraja Malaysia Bhd, will hold the remaining 49 percent.
Protasco said the project, awarded by Unit Perumahan Penjawat Awam 1Malaysia, is to build 1,681 apartment units in Putrajaya.
This new project is expected to contribute positively to the future earnings of Protasco, it said.
With this project, Protasco’s construction order book now stands at roughly RM900 million.
Protasco has completed Phase 1 of PPA1M Putrajaya in April 2017, and is currently building Phase 2.
Protasco said it also has a healthy road maintenance order book of about RM4.2 billion, which is expected to last until 2026.
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