SINCE venturing into the construction sector at the start of 2021, it has been a fruitful year for Ace Market-listed Kanger International Bhd.
On Jan 15, the group has entered into collaboration agreements with multiple main contractors for Kanger to carry out remaining construction works across six sites totalling RM495.9 mil.
In its recent development, Kanger has inked a collaboration agreement with Vegetta Champion Sdn Bhd to develop two blocks of service apartments totalling RM478.0 mil in Genting Highlands.
“This orderbook will boost our construction division and enhance our Group’s revenue and earnings over the next few years,” Kanger’s executive director Steven Kuah Choon Ching pointed out.
To-date, Kanger has accumulated a total construction orderbook of RM973.9 mil for its construction arm.
Under the terms of the collaboration agreements, Kanger will be responsible for the entire project management, financial and entire administration of the development. Meanwhile, Vegetta Champion is appointed as the main contractor for foundation and main building works of the Development.
Work on this project is expected to commence in June 2021 and will take approximately 48 months to be completed.
“We will continue to look for business opportunities especially in the construction sector to keep up the positive momentum,” projected Kuah.
To-recap, the bamboo manufacturer expanded its business into healthcare sector in September 2020 and signed a collaboration agreement with Sinopharm Group Hunan Changde Medical Co Ltd (SGHC) for the distribution of COVID-19 vaccines developed by China National Biotech Group Company (CNBG) in Malaysia. – March 3, 2021
