This development consists of a five-storey basement, a 10-storey podium, a 48-storey hotel and private residences (Tower 1) and a 56-storey serviced apartment (Tower 2).
KUALA LUMPUR (Dec 22): Construction outfit Crest Builder Holdings Bhd (KL:CRESBLD) has bagged a RM73.9 million subcontract from HAB Construction Sdn Bhd to undertake electrical and extra low-voltage system installation and maintenance works for the CloutHaus mixed-use development in Section 58, Jalan P Ramlee here.
This development consists of a five-storey basement, a 10-storey podium, a 48-storey hotel and private residences (Tower 1) and a 56-storey serviced apartment (Tower 2).
In a filing with Bursa Malaysia on Monday, Crest Builder said the contract was secured through its wholly owned subsidiary CBTech (M) Sdn Bhd. Works commenced on Dec 19, 2025, with the completion date subject to the main contractor’s work programme. The overall project is scheduled for completion on Feb 22, 2029.
“The contract is expected to contribute positively to the group’s earnings for the financial years ending Dec 31, 2026 and onwards,” it said.
In a separate statement, Crest Builder group managing director Eric Yong said that with the latest win, CBTech’s order book will increase to RM240 million, of which RM170 million is unbilled.
“This letter of award marks an opportune time for CBTech to emerge as a distinct player within the group, giving them the opportunity to move out of its bigger brother, Crest Builder Sdn Bhd’s shadows,” he added.
The latest win brings Crest Builder’s total outstanding order book to RM1.8 billion, which is expected to provide strong earnings visibility over the next four years.
At the noon market break, Crest Builder shares were untraded. The stock closed at 49 sen last Friday, giving the group a market capitalisation of RM110.2 million. The shares are down 18.33% year to date.
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Source: EdgeProp.my
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