KUALA LUMPUR (July 5): Hock Seng Lee Bhd's (HSL) value of projects in hand for rose to a record RM2.07 billion after the company secured a contract worth RM291 million to design and build the Universiti Teknologi Mara (UiTM) campus in Mukah, central Sarawak.
In a statement on Thursday, HSL said the new contract would be undertaken for concessionaire K P Mukah Development Sdn Bhd.
The scope of works for the project includes sand filling, piling, civil infrastructure works, the numerous specialist campus buildings and mechanical and electrical works, it said.
HSL said the UiTM Mukah project would be only the second of its kind in Sarawak to be implemented under the Private Financing Initiative ("PFI") concept; the first having been located in Samarahan, Sarawak.
Construction works are expected to take 36 months with HSL scheduled to complete the project by the third quarter of 2015, it said.
HSL managing director Datuk Paul Yu Chee Hoe said the project was expected to contribute positively to the company’s earnings from this year right through to 2015.
He said the new project brings the total value of new contracts secured by HSL thus far in 2012 to RM472 million.
"We are around the mid-year point of 2012 and have already surpassed our procurement value total of 2011," said Yu.
"This augurs well for a strong year," he said.
"We have proven our competitiveness and competence in bidding for and undertaking SCORE-related projects and we anticipate further opportunities arising in this dynamic new growth region of the state," said Yu.
The value of projects in hand for HSL now stands at a record RM2.07 billion of which RM1.3 billion was outstanding, he said.