Pansar to benefit from RM500m construction project from incoming subsidiary

PANSAR Bhd stands to reap the benefit of its soon-to-be-official wholly owned subsidiary which has been awarded a RM486 mil construction project of a tertiary institution in East Malaysia.

The so-called wholly owned subsidiary, Perbena Emas Sdn Bhd, has been awarded the contract for the design and construction of the UNIMAS (Universiti Malaysia Sarawak) Teaching Hospital in Kota Samarahan.

Pansar which specialises in engineering and construction is presently undertaking a corporate exercise which would enable Perbena to become its wholly owned subsidiary.

The Pansar group of companies has been spearheading the advancement of infrastructure in Malaysia for 60 years.

On March 10, Works Minister Datuk Seri Fadillah Yusof presented letter of awards (LOA) for four contracts totalling RM600 mil that comprised building and infrastructure works and facilities for several educational institutions in Malaysia.

Among the four contracts, Perbena was awarded the UNIMAS project which will bring its total outstanding order book which stood at RM1.46 bil as of Feb 1 to almost RM2 bil.

Perbena’s managing director of James Ling was present at the ceremony to receive the LOA from Fadillah.

Backed by a 43-year track record in the construction and civil engineering industry, Perbena has since its establishment undertaken projects in excess of RM5 bil.

Its past track record encompasses multiple projects in universities, hospitals, shopping centres, semi-conductor factories, oil and gas facilities, waste treatment plants, highway and road infrastructure works, religious institutions and institutional facilities, among others.

At 4.37pm, Pansar was up 0.5 sen or 0.64% to 78.5 sen with 2.56 million shares traded, thus valuing the company at RM363 mil. – March 16, 2021

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