KUALA LUMPUR: WCT Holdings Bhd has been awarded a RM1.2 billion contract from Jendela Mayang Sdn Bhd to carry out superstructure works for the Pavilion Damansara Heights integrated development project, in a related party transaction.
In a Bursa filing, the group said the contract is expected to commence in May 2020, and work is expected to be completed within 42 months.
“The scope of works under the contract shall encompass the execution and completion of a block of 32-storey office and hotel on a podium block, two blocks of residential towers, hard and soft landscape works and external works, including road and drainage, water reticulation, sewerage and a MRT link bridge,“ it said.
The acceptance of the contract is considered a related party transaction between the WCT Group and Jendela Mayang, by virtue of WCT group executive chairman and major shareholder Tan Sri Lim Siew Choon being a substantial shareholder and director of Jendela Mayang.
source https://www.thesundaily.my/business/wct-bags-pavilion-d-sara-heights-award-worth-rm12b-LC2150481
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