|Continues to Enrich Customer Base with Strong Project Pipeline|
HONG KONG, Nov 27, 2018 - (ACN Newswire) - BGMC International Limited ("BGMC" or the "Group") (HKEX: 1693), a Malaysia-based construction services company, announced today that its indirect wholly-owned subsidiary of the Group entered into a sub-contract with the main contractor, MRCB Builders Sdn Bhd ("MRCB Builders"), an engineering and construction arm of Malaysian Resources Corporation Berhad ("MRCB"), in relation to the construction of structural and architectural works (the "Works") for Tower 2 and Tower 3 blocks on a proposed 46-storey commercial development comprising tower blocks and podium block, on Lot 266, 349 and Government Land, Town of Sambanthan, Section 72 in Kuala Lumpur, Malaysia.
The estimated sub-contract sum is RM189,000,000 (approximately HK$357,210,000), which is exclusive of goods and services tax. The tentative commencement dates of the Works are mid-December 2018 for Tower 2 and mid-March 2019 for Tower 3. The Works are scheduled to be completed on 1 November 2020.
Tan Sri Barry Goh, Chairman and Executive Director of BGMC, said, "Given our established reputation and a proven 20-year track record of delivering quality and timely construction services, we are delighted to win another sizeable project from our well-known long-term client, MRCB, a testament to our strong customer base. We will continue to replenish the order books, tender for residential, commercial or industrial-construction projects in both public and private sectors and support infrastructure projects in Malaysia as well as seize opportunities available elsewhere in the Southeast Asia region, thereby creating optimal returns for our shareholders."
About BGMC International Limited
Founded in 1996, BGMC International Limited is a construction services company based in Malaysia. With an operating history of over 20 years, it provides a wide range of construction services to customers. Armed with experience and expertise in construction services, the Group is capable of undertaking public private partnership (PPP) projects based on the Build, Lease, Maintain and Transfer (BLMT) model that can allow it to generate long-term recurring cash flow.
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Nov 27, 2018 09:45 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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