The government has called a tender fort the Kinara-Damansara highway contract, with seven companies invited to bid for the job. Talk is that Pesona might be the front runner for some of the major components of the project. Little known Pesona made news when it proposed to do a back door listing via Mithril Bhd, owned by the MAA Holdings group, in the middle of 2011. Pesona is owned by two individuals – Wie Hock Beng who has an 80% stake in the company and Chak May Teng who owns the remainder. Wie, Chak and Datuk Subhi Dziyauddin are directors of Pesona. Subhi, wha was appointed Pesona director in Oct 2011, also sits on the board of listed Mtronic Global.
Mithril, a PN17 company, has been disposing of its assets to regularize its financials. The company, which supplies building materials, had in July 2011 announced the acquisition of Pesona for RM96 million as part of its restructuring, which is still subject to the SC’s nod. Pesona has a few notable jobs in it stable worth rm600 million that would last it for the next three to four years. It was also the front runner for the river beautification project and development of the CIQ in Malacca. The Kinara-Damansara concession could be a boost for it as this would mean steady cash flow in the longer term.
Other bidders include Mudajaya, Bina Puri.
Mithril, a PN17 company, has been disposing of its assets to regularize its financials. The company, which supplies building materials, had in July 2011 announced the acquisition of Pesona for RM96 million as part of its restructuring, which is still subject to the SC’s nod. Pesona has a few notable jobs in it stable worth rm600 million that would last it for the next three to four years. It was also the front runner for the river beautification project and development of the CIQ in Malacca. The Kinara-Damansara concession could be a boost for it as this would mean steady cash flow in the longer term.
Other bidders include Mudajaya, Bina Puri.
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