KUALA LUMPUR (Dec 9): FBG Holdings Bhd (KL:FBG) has secured a RM206.2 million contract to construct a hotel apartment block or Tower 2 for Johor Bahru City Square as part of its redevelopment by owner, Allgreen Properties Ltd.

Allgreen's multi-phase redevelopment of Johor Bahru City Square aims to transform the mall into a modern lifestyle hub and add new hotel apartments to capture demand from the upcoming Johor Bahru-Singapore RTS Link.

According to a statement by FBG on Tuesday, the latest win lifts the group’s outstanding order book to RM1.03 billion, providing positive earnings visibility through 2028.

The contract, awarded to its wholly owned subsidiary FBG Builder Sdn Bhd by Sunray Construction & Interior Sdn Bhd, covers main building works, mechanical and electrical installations, and testing and commissioning. 

The project is scheduled to start on Dec 15, 2025 and is expected to be completed by July 14, 2028.

FBG executive chairman Tan Sri Datuk Seri Chan Kong Choy said in the statement that the contract marks a significant milestone for the group and reflects partners’ confidence in its technical capabilities. 

“We take great pride in delivering consistent quality and timely execution. With that said, we remain steadfast in our commitment to uphold these values as we move forward,” he said.

The company’s shares were up 3.23% to 16 sen at noon break on Tuesday, valuing the company at RM208.51 million. Year to date, the stock is down 57.89%.