KUALA LUMPUR (April 12): MyEg Services Bhd (MyEG) has won a tender from Penang Development Corporation to set up a workers village at the Batu Kawan Industrial Park 3 in Seberang Perai.

The group said its sub-subsidiary MyEG Lodging Sdn Bhd will lease an 8.39-acre land for RM20.39 million over a duration of 30 years, to build and operate the workers village and related facilities at its own cost.

"The completed workers village is estimated to accommodate 7,500 foreign workers and will comply with Jabatan Tenaga Kerja Semenanjung Malaysia guidelines as well as certified with GreenRE," said MyEG in a filing with Bursa Malaysia.

GreenRE is a certification to promote sustainability in the Malaysian property sector, which is recognised by the Penang government.

MyEG said the project is expected to contribute positively to its earnings and net assets upon commencement of operations.

In 2017, MyEG diversified its principal activities to include a foreign workers accommodation programme. It entails the setting up and management of centralised and integrated living quarters or hostels for the purpose of housing foreign workers.

Shares of MyEG gained 3.36% or 2.5 sen to 77 sen on Wednesday (April 12), giving the group a market capitalisation of RM5.72 billion.