PETALING JAYA: Siab Holdings Bhd
has accepted a letter of award from Exsim Noordin Sdn Bhd for building and infrastructure works worth RM176.18mil in George Town, Penang.
Siab said the contract will entail alteration and addition for seven units of existing two-storey heritage buildings at Jalan C.Y. Choy to four units of shop and the conversion of the upper level of two units of existing two-storey heritage buildings at Jalan C.Y. Choy from residential to commercial.
It will also involve the construction of a 29-storey serviced apartment building comprising four-unit shop at level one, car parks at levels two to six, recreational facilities at level seven, 28 and 29 and 603 units of serviced apartments at level seven to level 27.
“The duration of the project is 30 months from the date for possession of the site of the project on Aug 1, 2024,” it said in a filing with Bursa Malaysia.
“The acceptance of the letter of award is expected to contribute positively to the earnings and net assets of the company for the financial year ending Dec 31, 2024 and throughout the duration of the project,” it added.
