KUALA LUMPUR: WCT Holdings Bhd’s unit WCT Bhd has bagged a RM1.77 billion mixed-property construction contract from Impian Ekspresi Sdn Bhd (under the proposed Pavilion Damansara Heights commercial development.
In an exchange filing today, WCT said contract’s scope of works encompassed the execution and completion of nine blocks of office tower and three blocks of service apartment on a podium block comprising retail space, mezzanine floors and works to lower ground floor and basement car park.
It noted that the construction was expected to be completed within 38 months from September 2018.
“The acceptance of the contract is considered a recurrent related party transaction between the WCT Group and Impian Ekspresi, which is a related party, for which the company had obtained its shareholders’ mandate at the company’s 7th annual general meeting held on June 6 2018.”
Impian Ekspresi is a company in which WCT executive chairman Tan Sri Lim Siew Choon has an indirect stake.
Lim and WCT managing director Datuk Lee Tuck Fook sit on Impian Ekspresi’s board.