KUALA LUMPUR (Aug 11): Kejuruteraan Asastera Bhd on Thursday (Aug 11) secured a letter of intent (LOI) for a RM16.7 million subcontract to undertake electrical services installation works for the proposed 44-storey Bon Kiara condominium project in Mont Kiara here.

The engineering and energy solutions provider secured the LOI from Land Marker Sdn Bhd, a subsidiary of Bon Estates Sdn Bhd, according to a bourse filing.

The scope of works involves the supply, delivery, installation, testing, and commissioning of electrical services installation and pile cap lightning protection earthing. 

This would be carried out in the upcoming Bon Kiara development, featuring two condominium towers with a total of 410 residential units, a multilevel and basement car park, and a clubhouse.

Kejuruteraan Asastera managing director Datuk Lai Keng Onn said the latest LOI for the Bon Kiara luxury condominium would be the group’s second major project with Bon Estates, after completing similar works for The Estate in Bangsar South in 2021. 

“This underscores the client’s confidence in our capabilities to deliver high-quality mechanical and electrical (M&E) engineering expertise for prominent developments.

“With this undertaking, our current M&E order book will increase to RM260.5 million, to be recognised over the next three years. We look forward to growing our M&E division, and covering more projects in the construction and development sector,” he said in a separate statement. 

At Thursday's lunch break, Kejuruteraan Asastera was down 1.22% or half a sen at 40.5 sen, bringing it a market capitalisation of RM732.2 million.