Crest Builder awarded RM175.5m contract

CREST Builder Holdings Bhd has been awarded a RM175.50 million contract by Exceljade Sdn Bhd, for the superstructure works on two towers of a 40-storey serviced apartment in Kuala Lumpur.

The contract was awarded to its a wholly-owned subsidiary, Crest Builder Sdn Bhd, the company informed Bursa Malaysia today.

The contract period is 24 months from the date of site possession which has been set out for Jan 2, 2010. The contract is expected to be completed by Jan 1, 2012.

Crest Builder said the contract will not have any effect on its issued and paid-up share capital or the substantial shareholder's shareholdings.
The contract, however, is expected to contribute positively to the earnings of the group for the financial years ending Dec 31, 2010 and onwards.

By Bernama