Vivocom International Holdings Bhd and Seni Perspek Sdn Bhd to develop residential project in Kinta, Perak

Vivocom International Holdings Bhd and Seni Perspek Sdn Bhd to develop residential project in Kinta, Perak

Preview News : Vivocom, Seni Perspek To Develop Residential Project In Perak

KUALA LUMPUR, August 4 — Vivocom Intl Holdings Bhd’s unit, Vivocom Enterprise Sdn Bhd (VESB), has signed a collaboration agreement with Seni Perspek Sdn Bhd for the development of a residential project in Kinta, Perak, for RM189.54 million. The project, in Bandar Tasik Amanjaya, consists of block A3 and Block E11 of four phases with a minimum of 4,032 units of residential units to be built.

“The project duration for each phase is 36 months and all phases may run concurrently,” the company said in a filing to Bursa Malaysia today. The cost and outlay by VESB, as the turnkey contractor to implement the project, would be financed by way of internally generated funds and/or bank borrowings, as and when, required.

Barring unforeseen circumstances, the project was expected to contribute positively to the future earnings of Vivocom, the company said. Meanwhile, Perak State Committee Chairman for Industries, Investment and Corridor Development Datuk Mohammad Zahir Abdul Khalid said the project was evident of the government’s commitment to develop all areas equally.

“All our developments are sprawled all over and not only concentrated in urban areas in Ipoh. “We want the development to be enjoyed by everyone,” he said at after the signing of the collaboration agreement.

 

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