Kuala Lumpur: Federal International Holdings Bhd’s wholly-owned subsidiary, Federal Builders Industries Sdn Bhd (FBI), has been awarded a RM64.89 million contract by Perumahan Masteron Sdn Bhd (PMSB) for a development project at PJ Selatan Sentral in Petaling Jaya.

According to BERNAMA News Agency, in a Bursa Malaysia filing today, Federal International said FBI received and accepted three letters of award (LOAs) for earthwork, piling, and substructure works.

The project involves three phases, namely phase 3A, which is expected to commence on June 16, 2025, and be completed by August 15, 2026; followed by phases 3B and 3C, which are expected to commence on April 16, 2026, and January 16, 2026, respectively, and be completed by June 15, 2027, and October 15, 2027.

Federal International stated that the project is expected to contribute positively to the group’s revenue and earnings for the financial year ending June 30, 2026, and thereafter for the duration of the contracts.

The project is regarded as recurrent related party transactions of a revenue or trading nature (RRPT) pursuant to Bursa Malaysia Main Market listing requirements, of which the mandate to enter into such RRPT had been obtained from its shareholders at the annual general meeting held on December 19, 2024.