Vizione wins RM250m construction job to build apartments in Semenyih

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“The company’s revenue of RM225.0 million was primarily driven by property development, significantly boosted by project progress.”

KUALA LUMPUR, 30th May 2024 – Vizione Holdings Bhd (KL) has secured a RM250 million contract to build apartments in Semenyih, Selangor, in a related-party deal.

In a filing with the bourse, Vizione announced that the project includes two 15-storey blocks and three 18-storey blocks.

The company’s subsidiary, Vizione Builder Sdn Bhd, received the letter of award from the real estate firm Midlands City Sdn Bhd.

Vizione’s managing director, Datuk Ng Aun Hooi, is the principal shareholder of Midlands City, holding a 62% stake. The remaining shares are owned by Ting Hing Khok (10%) and Ng Kok Kiang (28%).

Vizione’s shares ended the day down half a sen at four sen, resulting in a market capitalization of RM82 million. The stock has declined by 33% year-to-date.

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