KUALA LUMPUR (Sept 11): Southern Score Builders Bhd (KL:SSB8) has secured a contract worth RM180 million to undertake the main building works for a private hospital development in Ayer Keroh, Melaka in a related party transaction.
In a bursa filing on Friday, the group said its wholly owned subsidiary Southern Score Builders Sdn Bhd accepted the letter of award from Radium Hospital Ayer Keroh Sdn Bhd, a unit of Radium Development Bhd (KL:RADIUM).
The project is deemed a related-party transaction as the siblings of Southern Score managing director and major shareholder Tan Sri Gan Yu Chai are directors and substantial shareholders of Radium.
Additionally, Datuk Sydney Lim Tau Chin, a director of Southern Score, holds the position in Radium as non-independent non-executive director.
The project, located in Mukim Bukit Katil, comprises a seven-storey private hospital, a three-storey car park, a mechanical and electrical building and other supporting facilities.
Construction is scheduled to run for a duration of 19 months, with completion slated for May 14, 2028.
Southern Score said the contract is expected to contribute positively to its net assets and earnings for the financial year ending June 30, 2027 onwards until the completion of the project.
Southern Score’s share price closed two sen or 3.08% lower at 63 sen on Friday, giving the group a market value of RM1.43 billion.