KUALA LUMPUR: MGB Bhd, a subsidiary of LBS Bina Group Bhd, has been awarded a contract worth RM167.75 million for a residential development project in Genting Highlands, Pahang.
The contract involves the construction of a 36-storey building with 28 floors of service apartment units ranging from levels nine to 36 on 2.3 acres in Genting Highlands.
The contract was awarded to MGB's wholly-owned subsidiary, MGB Construction & Engineering Sdn Bhd, by RDC Arkitek (KL) Sdn Bhd on behalf of Johan Anggun Sdn Bhd.
MGB's executive vice chairman, Tan Sri Ir (Dr) Lim Hock San, said with this contract, the company's outstanding construction order book stands at RM1.22 billion, with development projects having a gross development value of RM1.26 billion.
"This brings a positive conclusion to our year 2023. Based on our positive results thus far, we anticipate a successful beginning in 2024, with expectations of continued advancement in both our construction and property development divisions," he said.
Lim said that MGB is continuously acquiring new expertise and refining methodologies to enhance quality and expand the utilisation of its industrialised building system (IBS) precast concrete products.
IBS remains an important component of the company's business and its core competence, which it will leverage to secure new projects, he said.
"Notwithstanding the ever-changing needs and demands of the construction and property development industries, we are optimistic about meeting the needs of our customers and, at the same time, remaining at the forefront of our industry," Lim said.