CHGP secures RM330mil contract in Penang

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KUALA LUMPUR: Chin Hin Group Property Bhd’s (CHGP) 65%-owned subsidiary, Kayangan Kemas Sdn Bhd (KKSB) has secured a contract worth RM330mil from Exyte Malaysia Sdn Bhd (EMSB).

In a filing with Bursa Malaysia, CHGP said the contract was for the supply, execution and completion of the Shell and core works site substructure and superstructure- Beta Site for Intel Pelican Project in Penang.

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The contract is for a duration of 15 months and shall be completed by the third quarter of 2023.

“The contract is expected to contribute positively to the earnings and net assets of CHGP for the financial year ending Dec 31, 2022, and onwards, during the duration of the contract,” it said.