CHAN SIFU

LFE Corp gets RM81.7mil building contract

PETALING JAYA: LFE Corp Bhd has accepted a letter of award worth RM81.71mil from Puncakcity Development Sdn Bhd (PDSB) to be the main contractor for main building works, for a period of approximately 32 months.

In a filing with Bursa Malaysia, LFE said the contract commenced on Oct 15, 2024 and will be completed on June 14, 2027.

“The contract is expected to contribute positively to the earnings and net assets per share of LFE Group for the financial year ending Dec 31, 2024 and up to the expiry of the contract.

“The company does not expect any material risk arising from the contract other than normal operational risk associated with the contract, in which the group would take appropriate measures to minimise them.”

Let's seize market opportunities together

Do you know which stocks will be benefits? 😁

Major Developments in Sabah and Sarawak

With Indonesia's decision to move its capital to Nusantara, East Kalimantan, both Sabah and Sarawak are presented with significant development opportunities. This will boost infrastructure, logistics, labor market growth, and tourism development, providing substantial economic benefits.

By 2025, it is estimated that Sabah and Sarawak will receive RM67 billion and RM59 billion, respectively, for national development funds. The primary focus will be on enhancing investments in inter-state transportation, electricity, and water supply.

In response to Indonesia's capital relocation and increased investments, Malaysia is expected to accelerate its development in Pan Borneo Highway and Sabah International Airport expansion, as well as Sarawak Airport expansion, particularly in Miri and Sibu. These infrastructure improvements will increase Malaysia's competitive edge, making air and sea transportation between the regions smoother and creating new economic opportunities.

Development of Industries and Commerce ⭐⭐

The relocation of Indonesia's capital has accelerated the growth of Sabah and Sarawak's industrial sector. Historically rich in resources, this presents opportunities for local developers and investors to promote land value appreciation and real estate market growth.

Trade and Business Ties ⭐⭐

Economic ties are expected to strengthen between East Malaysia and Indonesia, particularly in the trade of food, building materials, and consumer goods. Entrepreneurs in both regions will have opportunities to tap into new markets and establish business connections to meet new consumer demand.

Job Opportunities and Workforce Market ⭐⭐

The enhanced infrastructure development in East Malaysia is expected to generate employment opportunities, especially in the construction and service industries. Residents in the eastern regions of Malaysia will benefit from new job training programs, increasing workforce mobility and improving employment rates.

Boost in Tourism ⭐⭐

New infrastructure projects are expected to attract tourists to East Malaysia. As travel routes improve, Sabah and Sarawak are expected to receive more tourists, which will boost the related local economy and drive further growth in tourism-related industries.

LFE JV secures RM38.7mil data centre award


KUALA LUMPUR: LFE Corp's joint venture firm has accepted a RM38.7mil contract from Gamuda Engineering Sdn Bhd for the completion of a data centre and other facilities in Rawang in Selayang, Selangor.

In a filing with Bursa Malaysia, the group said R&L Engineering Sdn Hd, a partnership between its wholly-owned subsidiary LFE Engineering Sdn Bhd and RYB Engineering Pte Ltd, had undertaken the 12-month contract, which commenced on Oct 4, 2024, and will be completed on Oct 18, 2025.

The contract is expected to contribute positively to the earnings and net assets per share of LFE Group for the financial year ending Dec 31, 2024, and up to the expiry of the Contract.

Messages in this channel will be automatically deleted after 1 week

PAST RECORD

PAST RECORD