Mercury Industries Bhd”s subsidiary bags RM106.6 million PR1MA contract

Mercury Industries Bhd''s  subsidiary bags RM106.6 million PR1MA contract

KUALA LUMPUR, Jan 22 — Mercury Industries Bhd’s 70%-owned subsidiary, Paramount Bounty Sdn Bhd, has secured a RM106.6 million construction contract from Upaya Jernih Sdn Bhd.

The contract is for the construction and completion of 648 service apartment units and external works under the Perumahan Rakyat 1Malaysia Homes scheme.

In a filing to Bursa Malaysia today, the company said the project comprised four apartment towers and a three-storey podium car park in Pekan Tanjung Kling, Melaka.

“The contract period is for 29 months commencing Feb 1, 2016. The project is expected to contribute positively to the net assets and earnings of the Mercury Group for the financial year ending Dec 31, 2016,” it said.