PETALING JAYA: Mitrajaya Holdings Bhd (MHB) has accepted a letter of award from Avisena Healthcare Sdn Bhd for the development of a hospital block comprising 11 floors in Shah Alam, Selangor, for RM174.30mil.
In a filing with Bursa Malaysia, MHB said the contract is for a duration of 36 months from the date for possession of the site on May 23, 2024 and is expected to complete by May 21, 2027.
“The contract is expected to contribute positively to the earnings and net assets of MHB Group for the financial years ending Dec 31, 2024 to 2027.
“The contract will not have effect on the share capital and shareholding structure of MHB.”
For the financial year ended Dec 31, 2023 (FY23), MHB’s net profit rose to RM14.1mil from RM7.4mil in FY22, while revenue grew to RM294.78mil from RM259.58mil a year earlier.
The substantial increase in both the group’s revenue and pre-tax profit was mainly derived from a one-off transaction recognised in the first quarter of 2023.