KUALA LUMPUR (Sept 11): Vestland Bhd (KL:VLB) has secured a RM410 million contract to undertake construction works for a mixed-use development on Jalan Ampang here.
This marks Vestland’s second contract win in under a week, following the RM263.73 million job it secured for flood-mitigation works along Sungai Golok in Kelantan on Monday.
In a bourse filing on Friday, Vestland said its wholly-owned subsidiary had accepted a letter of award from Golden Armani Sdn Bhd to undertake superstructure, landscaping, facilities floors, façade lighting, signage and related miscellaneous works.
The development comprises one block of 69-storey small office home office (SOHO) and one block of 78-storey small office versatile office (SOVO) tower, together with related facilities. Work is scheduled to start on Sept 15 this year, to be completed by Sept 15, 2029.
Vestland made a net profit of RM20.03 million in the first six months ended June 30, 2026 (1HFY2026), up 8.3% from RM18.5 million a year earlier, as revenue grew 21.4% to RM449.72 million from RM370.58 million.
Shares of Vestland ended 2.5 sen or 2.78% higher at 92.5 sen on Friday, giving the ACE Market-listed company a market capitalisation of RM960.8 million. The stock has risen by more than 115.12% year to date.