KUALA LUMPUR (May 17): Pesona Metro Holdings Bhd has bagged a mixed development project worth RM319 million for the construction and M&E (mechanical and engineering) works for a 44-storey office tower in Kuala Lumpur.

In a filing with Bursa Malaysia today, Pesona Metro said its unit Pesona Metro Sdn Bhd has accepted the letter of award from Bayu Mantap Sdn Bhd, which is the turnkey contractor as well as turnkey developer of the project.

The project, starting today (May 17), is expected to contribute positively to the group's earnings and enhance its net assets during the duration of the project.

"The project will be funded via a combination of internally generated funds and short-term project financing facilities from financial institutions, the quantum of which has yet to be determined at this juncture," said Pesona Metro, adding that the effect on the gearing of the group cannot be ascertained at this juncture.

Shares of Pesona Metro closed half a sen or 1.54% higher at 33 sen today, valuing it at RM225.87 million.