AIZO GROUP BERHAD SECURES RM24.1 MILLION INFRASTRUCTURE CONTRACT WITH CHINA STATE CONSTRUCTION ENGINEERING

New Sub-Contract Marks Strategic Growth in Urban Infrastructure for AIZO Group Berhad

KUALA LUMPUR, 13 NOVEMBER 2024 – AIZO Group Berhad ("AIZO" or the "Company"), formerly known as Minetech Resources Berhad, is pleased to announce that its wholly-owned subsidiary, Minetech Construction Sdn. Bhd.  ("MCSB"), has accepted a Letter of Award ("LOA") from China State Construction Engineering (M) Sdn Bhd. (“CSCE Malaysia”). This award appoints MCSB as the Sub-Contractor to undertake external infrastructure works for the phased development project located at Jalan Pantai Dalam, Kuala Lumpur, with a contract sum of RM24.1 million.

The project, known as “Cadangan Pembangunan Berfasa di atas Lot PT 50001,” comprises three high-rise residential towers and supporting infrastructure, underscoring AIZO’s commitment to meeting the demands of urban development in Kuala Lumpur. The development includes Block 2A, a 37-storey tower with 440 residential units; Block 2B, a 38-storey tower with 452 units; and Block 2C, a 37-storey tower with 440 units.

The project will also feature a nine-floor podium for car parking, complete with resident facilities, a swimming pool, and a rooftop mechanical area. The work on this project commenced on 21 October 2024 and is expected to be completed by 20 July 2026.

For information, CSCE Malaysia is a subsidiary of China State Construction Engineering Corporation (“CSCEC”), a global leader in large-scale infrastructure and construction, with a presence in over 100 countries. The Company is well recognised for its expertise in delivering landmark projects worldwide. This maiden contract with CSCE Malaysia provides AIZO with a promising new growth avenue, as it expands its portfolio of infrastructure contracts and strengthens its position in Malaysia's urban development landscape.

En. Ahmad Rahizal Bin Dato' Ahmad Rasidi, the Executive Director of AIZO expressed his excitement for the project, stating: “This collaboration with China State Construction Engineering marks a milestone for AIZO as we expand our footprint in high-value infrastructure projects. We are thrilled to contribute to Kuala Lumpur’s urban development by supporting the construction of quality residential and infrastructure facilities. Working alongside a globally respected partner, we are proud to play a role in enhancing Malaysia’s infrastructure landscape, and we are committed to ensuring that this project delivers lasting value and sets new standards in construction excellence.”

This contract marks a meaningful milestone for AIZO as it taps into new infrastructure growth opportunities. The Company’s involvement in this major project further demonstrates the Company’s expertise and commitment to supporting Malaysia's urban development with top-quality infrastructure solutions. As at 13 November 2024, AIZO’s total orderbook stands at RM224.1 million.