Having successfully won from CRCC projects worth RM726.8million to date, the recent win increases the total projects secured on hand to RM966.8million, with another RM200 million under negotiation.

PETALING JAYA, Jan 20 (Bernama) -- Following its emergence as a formidable regional construction group, Instacom Group Berhad has announced to Bursa Malaysia that its subsidiary, Vivocom Enterprise, has secured yet again another construction project – this time totaling RM240 million from Coneff Corporation Sdn Bhd thereby further strengthening its already huge order book of some RM726.8 million announced earlier to amount to the current RM966.8million.
 
The project, a joint venture development with Dewan Bandaraya Kuala Lumpur, known as Phase 3B of D’ Idaman located at Lot 36071 and 36072 Desa Tasik, Mukim Petaling Sungai Besi, Kuala Lumpur, comprises 2 condominium blocks, 2-storey of retail lots, one-storey recreational centre and a seven-storey car park.

In addition to the RM240 million project just secured, Vivocom Enterprise is presently in final negotiation for another parcel of works estimated to be no less than RM200 million.
 
Emergence of formidable regional construction group
 
On Bursa Malaysia, Vivocom has transformed into the biggest ACE company in Malaysia and remained the market volume leader for the past several weeks, a phenomenon seldom seen in Malaysian stocks.
 
Vivocom has a strategic relationship with CRCC Malaysia, a subsidiary of China’s construction behemoth China Railway Construction Corporation Ltd, and is their in-house contractor as well as their Project Delivery Partner in Malaysia.
 
Its recently awarded notable projects include a RM116 million project in Gombak and two projects totaling RM378 million related to the 1Gateway project in Klang and 1Pavilion Hilltop in Mont Kiara, Kuala Lumpur.
 
These projects together with the company's current order book are expected to give a strong earnings visibility until end-2017 and beyond. Vivocom currently has a project pipeline estimated at RM2.3 billion.
 
The company’s Executive Director, Mr Choo Seng Choon, said: “We are very pleased to secure the latest RM240million contract. There will be further announcements to come as we are successfully awarded more contracts.”
 
“Instacom CEO Dato’ Seri Dr Yeoh Seong Mok was instrumental in securing this project. There will be more to come and Instacom is looking forward to delivering stronger and better financial performance ahead.”

SOURCE : INSTACOM GROUP BERHAD

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Choo Seng Choon
Executive Director of Instacom Group Berhad
Email: sengchoon@instacom.com.my 

--BERNAMA