KUALA LUMPUR, Malaysia (July 6): Grand Hoover Bhd (GHB) stated today that Pembinaan ATT (PATT) Sdn Bhd, its wholly-owned subsidiary, has accepted two letters of award from Pembinaan Tetap Teguh Sdn Bhd (PTT) for two construction projects totaling RM55.97 million. GHB said the contracts included earthworks (Phase 1) for Tropicana Industrial Park Sdn Bhd worth RM36.83 million and site clearance, earthworks, and retaining walls for a commercial land and residential development (Phase 2) for Messrs Tropicana GP Views Sdn Bhd worth RM19.14 million in Pontian, Johor.
For the relevant construction projects, PTT is the major contractor.
Phase 1 of the contract will begin on July 9, 2021 and end on October 6, 2022, or about 15 months from the start date, according to GHB, while Phase 2 will take around 14.5 months from July 9, 2021 to September 30, 2022.
“The acceptance of the construction contracts allows GHB and its subsidiaries to expand their construction business and potentially improve their future earnings,” it added. “In addition, the construction contracts are expected to provide an additional revenue stream for the group over the course of the contracts.”/n
