PJ Selatan Sentral:Kuala Lumpur Federal International Holdings Bhd's (FIHB) subsidiary, Federal Builders Industries Sdn Bhd, has successfully secured a RM46.96 million contract from Perumahan Masteron Sdn Bhd.
According to BERNAMA News Agency, the contract involves structural works for a proposed development in PJ Selatan Sentral, Selangor. The scope of work includes structural works for the basement, podium, facilities, and transfer floor of the development.
The project is set to commence on November 16, 2026, and is expected to be completed by December 15, 2027. FIHB anticipates positive contributions to its revenue and earnings for the financial year ending June 20, 2027, and for the duration of the contract.
Furthermore, the transaction is classified as a Recurrent Related Party Transaction (RRPT) due to certain directors and major shareholders of FIHB having direct and indirect interests in Perumahan Masteron.