Meta Bright secures RM30 mil concrete supply job from China State Construction Engineering Corp unit

KUALA LUMPUR (April 28): Meta Bright Group Bhd (KL:MBRIGHT) has secured a RM30 million contract from China State Construction Engineering (M) Sdn Bhd (CSEC Malaysia) to supply ready-mixed concrete for the Boulevard 360 Bundusan project in Sabah.

CSEC Malaysia is the Malaysian arm of China State Construction Engineering Corporation, a large state-owned Chinese construction group. The contract was awarded to Expogaya Sdn Bhd, Meta Bright’s 70%-owned subsidiary.

The provisional value of the contract is RM30 million, with the final amount subject to the actual volume of materials supplied. The contract period is a little over three years, from April 28, 2025, to Aug 31, 2028.

"The RM30 million contract is an initial supply order for the existing project progress, with potential for additional orders based on Expogaya's performance and delivery," Meta Bright said.

Boulevard 360 Bundusan, a mixed-use development in Penampang, Kota Kinabalu, boasts a gross development value of RM1.1 billion and includes three modern residential towers along with approximately 330,000 square feet of commercial space.

Meta Bright is a diversified group with interests in property development, hospitality, investment properties, leasing and financing, and renewable energy. Its largest shareholder is executive director Lee Wai Mun, who holds a 51.6% stake through Leading Ventures Sdn Bhd.

Derek Phang Kiew Lim, Meta Bright's executive director of corporate and strategic planning, said this contract positions the group prominently within Sabah’s thriving construction market and establishes a strong foundation for future collaborations.

"Our proven track record and substantial operational capacity played a crucial role in securing this prestigious contract. We anticipate further orders from China State Construction Engineering, reflecting their continued trust in our capabilities and performance," Phang added.

Shares of Meta Bright, which have declined by over 7% year-to-date, closed unchanged at 12 sen on Monday, giving the group a market capitalisation of RM303.8 million.