Fajarbaru awarded RM101m building works contract

PETALING JAYA: Fajarbaru Builder Group Bhd has bagged a RM101.3 million contract for building works of a commercial development in Semenyih, Selangor.
The group told Bursa Malaysia that its wholly owned subsidiary Fajarbaru Builder Sdn Bhd had accepted a letter of acceptance dated July 26 from TYL Land & Development Sdn Bhd in respect of the remaining building works and related external works for the proposed commercial development.
The contract period is 27 months from date of commencement. It is expected to contribute positively to the group’s earnings and net assets for the financial years ending June 30, 2018, 2019 and 2020.
In a separate announcement, Fajarbaru said it also received a job from Malaysia Airports (Sepang) Sdn Bhd with a contract sum of RM705,000.
The contract is for the proposed apron line marking, access road connection and associated works at KLIA Air Cargo Terminal 1 at the Kuala Lumpur International Airport.
Works are scheduled to go on for a period of 120 days beginning Aug 1 until Nov 28.
The group’s shares declined half a sen to close at 95.5 sen on Friday with some 1.05 million shares changing hands.
Fajarbaru is listed on the main market of Bursa Malaysia and is involved primarily in the construction business.