New contracts set to bolster Crest Builder
Posted on | March 15, 2007
By CHAN CHING THUT
KUALA LUMPUR: Crest Builder Holdings Bhd expects a robust performance this year as it is optimistic of securing a few projects it has tendered.
In the past three months, the company had bid for close to RM1bil worth of contracts, including some under the Ninth Malaysia Plan, said managing director Yong Soon Chow.
“Based on our experience, we could probably secure 10% to 20% of the contracts that we bid for,” he told reporters after the company’s EGM yesterday.
Currently, Crest Builder has an order book of about RM1bil, of which RM600mil is outstanding.
Yong said the company would also launch a few projects later this year.
Crest Builder announced last week that its wholly-owned unit CB Land Sdn Bhd had signed an agreement with Syarikat Perumahan Negara Bhd to undertake a mixed development in Batu Tiga, Shah Alam, for RM147mil.
CB Land will design and construct medium-cost apartments and shops under the affordable housing scheme in two phases, for completion within 36 months.
“We have a balance of three phases in this area, which we hope to launch later this year, and will comprise commercial development,” Yong said.
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Yong Soon Chow (left) and Crest Builder executive chairman Tengku Datuk Sulaiman Jalil Shah at the EGM
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The company, he added, hoped to start work soon on a commercial project with a gross development value of RM100mil in Kelana Jaya.
Crest Builder’s other project, 3 Two Square in Petaling Jaya, is targeted for completion by June.
At the EGM, shareholders passed all resolutions, including a proposed employees share option scheme.
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