MGB completes topping out ceremony for fourth 'Idaman' project
PETALING JAYA: MGB Bhd, under LBS Bina Group Bhd, has successfully completed its topping out for Idaman Sari, one of its six Rumah Idaman MBI projects under the same initiative.
This milestone follows the recent successful handover of keys for Idaman Melur, which was held on July 3.
Strategically located in Puchong, Idaman Sari comprises 513 residential units spread across 2.45ha of land, and is developed to support a sustainable and comfortable lifestyle for urban families.
Each unit has a built-up area of at least 1,000 sq ft and comes with a layout of featuring three bedrooms and two bathrooms, two designated parking lots and modern home essentials including a television with cabinet, refrigerator, kitchen cabinet, three air conditioners, water heaters in both bathrooms and wardrobes in every bedroom and excellent access to amenities nearby.
Prices for each unit of Rumah Idaman start from RM 250,000 onwards.
Idaman Sari will be the fourth Rumah Idaman to complete its topping out after Idaman BSP, Idaman Melur as well as Idaman Cahaya 1 and 2 projects respectively.
It is another step forward for MGB in supporting the Selangor state government's effort under the Rumah Idaman initiative to deliver up to 30,000 high-quality, affordable housing units across Selangor for its residents.
To date, the success and progress of MGB delivering on its Rumah Idaman projects remains steady, starting with the handover of keys for Idaman BSP in August 2024 and the recent successful handover of keys for Idaman Melur, which was held last month.
In line with MGB's mission to push boundaries and surpass expectation through quality, reliability and innovation, Idaman Sari is built using MGB's Industrialised Building System (IBS) precast technology, a construction method that uses precast concrete panels manufactured under strict quality control and consistency that has been proven to positively impact project timelines by reducing construction time by up to 33%.
MGB Bhd group executive chairman Tan Sri Ir. Dr. Lim Hock San said, 'The topping out of Idaman Sari is MGB's statement on the progress we have made in providing well-built, affordable homes to Malaysians, especially those residing in Selangor.
'MGB continues to play a role in addressing housing affordability by delivering fully equipped, thoughtfully located homes to first-time homeowners on time and with quality that endures.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
a day ago
- The Star
MGB completes topping out ceremony for fourth 'Idaman' project
From left) Deputy chief executive officer Isaac Lim, Hock San and deputy chief executive officer Daniel Chew, members of MGB Bhd's senior management, witnessing the topping out ceremony of Idaman Sari. PETALING JAYA: MGB Bhd, under LBS Bina Group Bhd, has successfully completed its topping out for Idaman Sari, one of its six Rumah Idaman MBI projects under the same initiative. This milestone follows the recent successful handover of keys for Idaman Melur, which was held on July 3. Strategically located in Puchong, Idaman Sari comprises 513 residential units spread across 2.45ha of land, and is developed to support a sustainable and comfortable lifestyle for urban families. Each unit has a built-up area of at least 1,000 sq ft and comes with a layout of featuring three bedrooms and two bathrooms, two designated parking lots and modern home essentials including a television with cabinet, refrigerator, kitchen cabinet, three air conditioners, water heaters in both bathrooms and wardrobes in every bedroom and excellent access to amenities nearby. Prices for each unit of Rumah Idaman start from RM 250,000 onwards. Idaman Sari will be the fourth Rumah Idaman to complete its topping out after Idaman BSP, Idaman Melur as well as Idaman Cahaya 1 and 2 projects respectively. It is another step forward for MGB in supporting the Selangor state government's effort under the Rumah Idaman initiative to deliver up to 30,000 high-quality, affordable housing units across Selangor for its residents. To date, the success and progress of MGB delivering on its Rumah Idaman projects remains steady, starting with the handover of keys for Idaman BSP in August 2024 and the recent successful handover of keys for Idaman Melur, which was held last month. In line with MGB's mission to push boundaries and surpass expectation through quality, reliability and innovation, Idaman Sari is built using MGB's Industrialised Building System (IBS) precast technology, a construction method that uses precast concrete panels manufactured under strict quality control and consistency that has been proven to positively impact project timelines by reducing construction time by up to 33%. MGB Bhd group executive chairman Tan Sri Ir. Dr. Lim Hock San said, 'The topping out of Idaman Sari is MGB's statement on the progress we have made in providing well-built, affordable homes to Malaysians, especially those residing in Selangor. 'MGB continues to play a role in addressing housing affordability by delivering fully equipped, thoughtfully located homes to first-time homeowners on time and with quality that endures.'
The Star
a day ago
- The Star
MGB's latest job win on track to achieve firm's FY25 order book target
PETALING JAYA: MGB Bhd 's latest contract win ensures earnings visibility and lifts its outstanding order book to RM1.2bil. This represents a healthy 2.1-times cover of Mercury Research's financial year 2025 (FY25) construction sector revenue forecast. Mercury Research maintains its FY25-FY26 earnings forecasts and RM700mil order-book replenishment target, as the latest contract win is within its expectations. Mercury expects MGB to remain on track to achieve its FY25 order-book replenishment target. This is supported by the upcoming LBS Bina Group Bhd 's planned RM2.6bil gross development value worth of property launches in the second half of FY25 and potential contributions from its own pocket land developments in Puchong and Cameron Highlands. Besides, MGB's first deal with Creed Group could pave the way for future wins from CI Medini's multi-phase Iskandar Puteri projects, diversifying its client base and strengthening revenue resilience. MGB has secured a RM186mil construction job from CI Medini Sdn Bhd to develop a two-phased serviced apartment in Iskandar Puteri, Johor. As the win is within Mercury's orderbook assumption, it has maintained its valuations. It reiterates its 'buy' call with an unchanged sum-of-parts-derived target price of RM1.09 a share. This values the construction division at 11 times the FY25 earnings per share and the property segment at a 40% discount to revalued net asset value. The research house continues to like MGB for its focus on affordable housing and healthy construction order book, complemented by its expertise in IBS solutions. The contract was secured from an external client rather than parent company LBS Bina Bhd.
The Star
2 days ago
- The Star
Trading ideas: MGB, YTL Power, Classita, Infomina, NationGate, Thong Guan, Carlsberg, Sunway REIT, UMS, MSC, Tex Cycle, Rhone Ma
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. MGB Bhd secured a RM185.99m contract from CI Medini Sdn Bhd for the development of two serviced apartment towers in Medini, Iskandar Puteri, Johor Baru. YTL Power International Bhd launched 'Ilmu', Malaysia's first fully homegrown large language model, via its unit YTL AI Labs Sdn Bhd. Classita Holdings Bhd said its subsidiary Caely (M) Sdn Bhd has sued Koperasi Peserta-Peserta Felcra Malaysia Bhd to recover RM9.47m in unpaid sums for a completed RM69.04m housing project in Perak. Infomina Geolytik Sdn Bhd, a joint venture between Infomina Bhd and Geolytik Tech Sdn Bhd, launched ValuationXchange, a PEPS Ventures-endorsed platform to streamline property valuations, improve compliance, and enhance loan processing efficiency. Nationgate Holdings Bhd saw the Employees Provident Fund reduce its shareholding below the 5% threshold after disposing of 3.75m shares on 8 Aug 2025, leaving it with a 4.909% stake. Thong Guan Industries Bhd announced that Raja Muda of Kedah Tengku Sarafudin Badlishah Sultan Sallehuddin has resigned as independent and non-executive chairman effective 25 Aug 2025, after completing his nine-year tenure. Carlsberg Brewery Malaysia Bhd posted a 3.2% YoY increase in 2QFY25 net profit to RM81.9m, aided by lower tax expenses despite a 3.4% YoY decline in revenue to RM490.2m. Sunway Real Estate Investment Trust reported a 10.9% YoY decline in 2QFY25 net profit to RM129.35m from RM145.07m, despite revenue rising 20.4% YoY to RM211.40m on stronger contributions from retail, industrial and other segments. UMS Integration Ltd posted a 10.1% YoY increase in 2QFY25 net profit to S$10.26m, supported by a 20.4% YoY rise in revenue to S$67.35m. Malaysia Smelting Corp Bhd posted a 16.6% YoY decline in 2QFY2025 net profit to RM13.95m, due to lower tin prices and sales volumes, while revenue fell 7.8% YoY to RM378.96m. Tex Cycle Technology (M) Bhd posted a 20.6% YoY increase in 2QFY2025 net profit to RM3.02m, supported by higher contributions from its trading and renewable energy divisions, as revenue rose 4.9% YoY to RM8.6m. Rhone Ma Holdings Bhd posted a 27.6% YoY rise in 2QFY25 net profit to RM3.46m, supported by lower material costs.
