Southern Score wins RM15m sub-structure job for Melaka private hospital
KUALA LUMPUR (Nov 28): Southern Score Builders Bhd (KL:SSB8) has secured a RM15.18 million contract to undertake sub-structure works for a planned seven-storey private hospital and a three-storey car park in Bukit Katil, Melaka.
In a bourse filing with the stock exchange, the group said its wholly owned subsidiary Southern Score Sdn Bhd had on Friday accepted the letter of award from Radium Hospital Ayer Keroh Sdn Bhd, a subsidiary of Radium Development Bhd (KL:RADIUM).
The project comprises sub-structure works for a 142-bed private hospital block and an adjoining multi-storey parking facility.
The scope includes site clearance and earthworks, bored piles and pilecap works, lift pit wall and column stump starter bar, an earthing system, and other works stipulated in the contract drawings and contract documents.
The contract will commence on Dec 15, 2025, and will run for nine months until Sept 14, 2026.
Southern Score Builders noted that the award constitutes a related-party transaction, as the siblings of its director and major shareholder Tan Sri Datuk Seri Gan Yu Chai are directors and major shareholders of Radium Development.
The transaction falls under a shareholders’ mandate obtained at its annual general meeting on Dec 12, 2024.
The board, excluding the interested director, said the project is in the ordinary course of business and in the best interest of the group.
Southern Score had proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia in October 2024 but was later rejected by the Securities Commission Malaysia (SC).
The rejection came after the SC declined to grant the company relief from complying with the requirement for ‘positive operating cash flow’ under the profit test.
It debuted on the ACE Market in November 2022 at an initial public offering price of 55 sen per share.
On Friday, the stock closed up 0.5 sen or 0.87% at 58 sen, for a market capitalisation of RM1.31 billion.
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