PETALING JAYA, 3 August: Property developer O&C Resources Bhd (OCR) has clinched a contract worth RM101.1 million from Prima and Mampan ESA (Melaka) Sdn Bhd to build and develop a 1Malaysia People’s Housing Programme (PR1MA) housing project, called PR1MA@Sri Gading, in Alor Gajah, Malacca.
In a statement yesterday, OCR said its 70% equity subsidiary, Kita Mampan Sdn Bhd, through its associate company, AES Builders Sdn Bhd, has entered into a master en-bloc purchase agreement with Prima and Mampan ESA (Melaka).
OCR said the three-year project comprises 554 residential units with five apartment blocks of 11 storeys each and one apartment block of 12 storeys.
The group expects the project to contribute positively to its earnings and net assets for the financial year ending July 31, 2017.
OCR said, to date, it has property projects in Kuantan, Malacca and Kuala Lumpur with a total gross development value of RM685 million.
— THE SUN