KUALA LUMPUR: Central Global Bhd’s (CGB) wholly-owned subsidiary, Proventus Bina Sdn Bhd (PBSB) has secured three contracts with a total value of RM85.14mil from Jonah Bina Sdn Bhd (JBSB).

       CGB said the contracts were for the construction of the Montage condominium in Sg. Nibong, the Quinton condominium in Balik Pulau and the Sri Bayu apartment in Bayan Lepas.

       Under the agreement, PBSB will be supporting JBSB as its sub-contractor in the construction of the residential buildings while also, amongst others, providing daily maintenance of public roads to and fro the project site as well as maintaining the completed subcontract works which include but are not limited to repair, rectification, replacement of defective parts, component, items, materials, and equipment.

       Construction works for both the Montage and Quinton condominiums commenced on Feb 23, 2022 and are expected to be completed by Oct 31, 2022 and Feb 18, 2023 respectively.

       The construction works on the Sri Bayu apartment shall commence on Feb 23 and are expected to be completed by Aug 22, 2022.

       With these contracts awarded, CGB’s total order book now stands at approximately RM389mil.

       “The contracts will have no effect on the share capital of the company but it is expected to contribute positively to the earnings and net assets per share of the group for the financial years ending 2022 to 2023,” it said.