Federal International lands RM46.96 million structural works award
The related-party contract covers work at PJ Selatan Sentral and has an expected completion date of Dec 15, 2027.
Federal International Holdings Bhd (FIHB) has announced a RM46.96 million award to subsidiary Federal Builders Industries Sdn Bhd for structural works at PJ Selatan Sentral, Petaling Jaya, Selangor.
According to FIHB’s Nov 2 bourse filing, the subsidiary accepted the award from Perumahan Masteron Sdn Bhd, a related party. The contract spans 13 months, with work expected to begin on Nov 16 and finish by Dec 15, 2027.
The proposed development’s basement and podium are included in the scope, alongside its facilities and transfer floor.
FIHB said a mandate approved by shareholders at its annual general meeting already covered the related-party transaction. Choy family members deemed interested include Datuk Dr Choy Fook On, the founder and non-executive chairman, and Datuk Choy Wai Hin, the managing director.
Those interests stem from their FIHB shareholdings or directorships and connections with Perumahan Masteron. The latter belongs to Masteron Group, a property developer established by Fook On.
FIHB anticipates a positive revenue and earnings contribution for FY2027, which ends on June 30, 2027, and for later financial periods through completion. Its shares finished unchanged at 27 sen on Nov 2, putting its market capitalisation at RM39.1 million.
