KUALA LUMPUR: SC Estate Builder Bhd’s wholly-owned unit SC Estate Construction Sdn Bhd won a RM22 million contract from Visi Sempena Sdn Bhd to build apartments and shop lots in Kedah.
In an exchange filing today, SC Estate said the contract works include the construction of the 18-storey proposed development of 357 units apartments and 14 units shop lots.
The contract starts on February 28, 2018 and is slated to complete on February 27, 2020.
SC Estate warns investors of execution risks such as availability of skilled manpower and competitively priced building materials.
“We will undertake all necessary efforts to mitigate the various risk factors identified.”
SC Estate noted the contract is expected to contribute positively to its earnings for the year ending January 2019.