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Construction and Development of Real Estate

Development of Town Houses in Selangor, Malaysia

Premier Mirach Sdn Bhd, a 75%-owned subsidiary of the Company is developing individual residential unit of townhouses on the land held under Geran Mukim 2695 Lot 3538, 11th Mile Ayer Hitam Road, Mukim Dengkil, Daerah Sepang, State of Selangor measuring 15,429 square meters (1.5429 hectares) in West Malaysia. The gross development value is MYR34,000,000/-, and the duration for commencement to completion is estimated at 36 months. Under the Partnership Agreement with Pacific Vintage Sdn Bhd, Premier Mirach Sdn Bhd will be engaged as the consultant for the overall management, undertake the main contractor role in relation to the development of the residential units, as well as the sales and marketing of the project.

 

Developing of Low-cost housing in Perak, Malaysia

Premier Mirach Sdn Bhd, a 75% subsidiary of MEL, signed an agreement with Premier Construction Sdn Bhd to undertake the construction, completion and handover of 213 units single-storey terrace houses in Batu Gajah, Perak. The project carries a Contract Value of RM20,500,000, and has a construction and completion duration of 29 months.