PETALING JAYA: Tiles manufacturer Seacera Group Bhd's unit Seacera Builders Sdn Bhd proposes to buy a 70% stake in Teras Sari Resources Sdn Bhd (TSRSB), a company which today accepted a letter of intent for road upgrading work in Pahang for RM338 million.
TSRSB today received and accepted a Letter of Intent from Jabatan Kerja Raya Malaysia for a RM338 million project to upgrade the trunk road from Pekan town to Kampung Sungai Miang, Pekan, Pahang.
Seacera Builders entered into a Heads of Agreement (HOA) with LT Century Development Sdn Bhd and LTC Holdings Sdn Bhd for a 70% interest in construction and civil engineering company for a price to be decided later.
TSRSB, which is also in the water sector is registered with Pusat Khidmat Kontraktor as a Class ‘A’ Contractor with Bumiputera Status and Construction Industry Development Board Malaysia (CIDB) with Grade 7 majoring in Construction of Building and Civil Engineering Works.
Seacera's share price was unchanged at 73 sen with some 215,300 shares changing hands.